TechTarget, Inc. (NASDAQ:TTGT) Receives $37.67 Consensus Target Price from Analysts

Shares of TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.67.

A number of equities research analysts have weighed in on TTGT shares. Needham & Company LLC cut their target price on TechTarget from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, September 16th. KeyCorp lowered their target price on TechTarget from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, August 12th. Raymond James reduced their price objective on shares of TechTarget from $39.00 to $34.00 and set an "outperform" rating for the company in a research report on Monday, August 12th. Finally, Craig Hallum upgraded shares of TechTarget from a "hold" rating to a "buy" rating and boosted their target price for the stock from $34.00 to $36.00 in a report on Tuesday, October 15th.

Institutional Trading of TechTarget

Several large investors have recently added to or reduced their stakes in the company. Earnest Partners LLC raised its position in TechTarget by 6.3% during the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider's stock valued at $15,451,000 after buying an additional 29,375 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in shares of TechTarget in the first quarter worth approximately $501,000. Sei Investments Co. boosted its holdings in shares of TechTarget by 4.6% during the first quarter. Sei Investments Co. now owns 32,853 shares of the information services provider's stock worth $1,087,000 after purchasing an additional 1,432 shares during the period. Rice Hall James & Associates LLC grew its position in TechTarget by 21.2% during the second quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider's stock valued at $7,560,000 after purchasing an additional 42,374 shares in the last quarter. Finally, Swiss National Bank increased its stake in TechTarget by 2.2% in the 1st quarter. Swiss National Bank now owns 50,500 shares of the information services provider's stock valued at $1,671,000 after buying an additional 1,100 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

TechTarget Stock Performance

Shares of NASDAQ TTGT traded down $0.04 during midday trading on Monday, hitting $28.31. 95,556 shares of the company's stock were exchanged, compared to its average volume of 128,342. TechTarget has a twelve month low of $22.82 and a twelve month high of $41.93. The firm has a market cap of $827.64 million, a P/E ratio of -94.50, a PEG ratio of 32.52 and a beta of 1.03. The stock's 50 day moving average price is $25.94 and its 200-day moving average price is $28.48. The company has a debt-to-equity ratio of 1.74, a current ratio of 9.35 and a quick ratio of 9.35.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The information services provider reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.01. The company had revenue of $58.91 million for the quarter, compared to analyst estimates of $58.08 million. TechTarget had a positive return on equity of 5.92% and a negative net margin of 3.84%. The company's quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. Equities research analysts anticipate that TechTarget will post 0.5 EPS for the current year.

About TechTarget

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.