TechTarget (NASDAQ:TTGT) Earns Buy Rating from Needham & Company LLC

TechTarget (NASDAQ:TTGT - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They currently have a $40.00 target price on the information services provider's stock. Needham & Company LLC's price target indicates a potential upside of 129.36% from the company's current price.

Other equities analysts also recently issued research reports about the stock. Craig Hallum decreased their target price on shares of TechTarget from $40.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday. KeyCorp lowered their target price on shares of TechTarget from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. StockNews.com assumed coverage on TechTarget in a research report on Thursday, January 9th. They set a "hold" rating on the stock. Finally, Lake Street Capital lowered their price objective on shares of TechTarget from $36.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, December 30th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

TechTarget Price Performance

Shares of TTGT stock traded down $0.40 during trading hours on Wednesday, reaching $17.44. The stock had a trading volume of 543,091 shares, compared to its average volume of 237,655. The firm has a market capitalization of $509.86 million, a PE ratio of -41.52, a PEG ratio of 12.04 and a beta of 1.04. TechTarget has a 12 month low of $17.21 and a 12 month high of $33.08. The stock's fifty day simple moving average is $24.53 and its 200 day simple moving average is $26.66. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The firm had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company's revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts predict that TechTarget will post 0.55 EPS for the current year.

Institutional Investors Weigh In On TechTarget

Several institutional investors and hedge funds have recently modified their holdings of the company. BOKF NA purchased a new position in shares of TechTarget in the 2nd quarter valued at about $239,000. Cornercap Investment Counsel Inc. acquired a new position in shares of TechTarget in the 3rd quarter valued at $245,000. Intech Investment Management LLC purchased a new stake in shares of TechTarget in the third quarter valued at about $257,000. Quest Partners LLC purchased a new position in shares of TechTarget in the 3rd quarter valued at approximately $272,000. Finally, SG Americas Securities LLC acquired a new position in TechTarget in the 3rd quarter valued at $307,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

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.