TechTarget (NASDAQ:TTGT) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of TechTarget (NASDAQ:TTGT - Free Report) in a report issued on Friday morning. The firm issued a hold rating on the information services provider's stock.

Other analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price objective on shares of TechTarget in a research report on Wednesday. Lake Street Capital reduced their price target on shares of TechTarget from $36.00 to $24.00 and set a "buy" rating for the company in a report on Monday, December 30th. KeyCorp dropped their price objective 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. Finally, Craig Hallum reduced their target price on TechTarget from $40.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.00.

TechTarget Trading Down 3.2 %

Shares of TTGT traded down $0.58 during trading hours on Friday, hitting $17.31. 85,639 shares of the stock were exchanged, compared to its average volume of 230,333. TechTarget has a fifty-two week low of $17.18 and a fifty-two week high of $33.08. The business has a 50-day moving average of $24.04 and a 200-day moving average of $26.53. The firm has a market capitalization of $506.14 million, a P/E ratio of -41.16, a price-to-earnings-growth ratio of 9.11 and a beta of 1.04. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49.

TechTarget (NASDAQ:TTGT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share 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 period last year, the company posted $0.13 EPS. The business's quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts expect that TechTarget will post 0.55 EPS for the current year.

Hedge Funds Weigh In On TechTarget

A number of hedge funds have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp boosted its position in TechTarget by 10.0% in the second quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider's stock worth $776,000 after purchasing an additional 2,254 shares during the last quarter. American Century Companies Inc. grew its position in shares of TechTarget by 14.4% during the 2nd quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider's stock valued at $1,078,000 after acquiring an additional 4,352 shares during the period. Envestnet Asset Management Inc. grew its position in shares of TechTarget by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider's stock valued at $9,974,000 after acquiring an additional 8,212 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of TechTarget by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider's stock worth $24,717,000 after purchasing an additional 8,681 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of TechTarget by 4.3% in the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider's stock worth $355,000 after purchasing an additional 469 shares during the period. Institutional investors and hedge funds 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.