TechTarget, Inc. (NASDAQ:TTGT) Short Interest Up 17.8% in February

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 692,700 shares, a growth of 17.8% from the February 13th total of 587,800 shares. Currently, 5.9% of the shares of the company are short sold. Based on an average trading volume of 253,600 shares, the days-to-cover ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TTGT shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $18.00 price objective on shares of TechTarget in a research report on Tuesday, January 21st. Lake Street Capital reduced their price target on TechTarget from $36.00 to $24.00 and set a "buy" rating for the company in a report on Monday, December 30th. Raymond James cut TechTarget from an "outperform" rating to a "market perform" rating in a report on Tuesday, February 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price objective on shares of TechTarget in a report on Wednesday, January 15th. Finally, StockNews.com began coverage on TechTarget in a research report on Monday, February 10th. They set a "hold" rating for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.14.

Remove Ads

TechTarget Trading Up 0.6 %

Shares of NASDAQ:TTGT traded up $0.09 during midday trading on Friday, reaching $14.35. The company's stock had a trading volume of 362,368 shares, compared to its average volume of 154,533. The firm has a market cap of $419.52 million, a price-to-earnings ratio of -34.17, a price-to-earnings-growth ratio of 113.92 and a beta of 1.05. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a 1 year low of $13.04 and a 1 year high of $35.11. The business has a 50 day moving average price of $15.91 and a 200 day moving average price of $22.07.

Institutional Investors Weigh In On TechTarget

A number of institutional investors have recently added to or reduced their stakes in TTGT. Cornercap Investment Counsel Inc. purchased a new stake in TechTarget during the third quarter valued at about $245,000. Quest Partners LLC purchased a new stake in TechTarget during the third quarter valued at about $272,000. LMR Partners LLP purchased a new stake in TechTarget during the third quarter valued at about $526,000. Intech Investment Management LLC purchased a new stake in TechTarget during the third quarter valued at about $257,000. Finally, FMR LLC grew its position in TechTarget by 2.5% during the third quarter. FMR LLC now owns 2,455,705 shares of the information services provider's stock valued at $60,042,000 after acquiring an additional 60,191 shares during the period. 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.