TechTarget, Inc. (NASDAQ:TTGT) Short Interest Down 52.9% in December

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totalling 499,100 shares, a decline of 52.9% from the November 30th total of 1,060,000 shares. Based on an average daily volume of 353,200 shares, the days-to-cover ratio is currently 1.4 days.

Hedge Funds Weigh In On TechTarget

Several large investors have recently bought and sold shares of the stock. Earnest Partners LLC boosted its stake in shares of TechTarget by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider's stock worth $15,451,000 after buying an additional 29,375 shares during the last quarter. LMR Partners LLP bought a new stake in TechTarget during the third quarter worth $526,000. Impax Asset Management Group plc boosted its position in TechTarget by 24.9% in the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider's stock worth $8,591,000 after purchasing an additional 70,000 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in TechTarget by 152.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider's stock valued at $3,921,000 after purchasing an additional 96,896 shares during the period. Finally, Rockefeller Capital Management L.P. increased its position in shares of TechTarget by 19.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider's stock valued at $12,545,000 after purchasing an additional 82,626 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TTGT shares. Needham & Company LLC restated a "buy" rating and set a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. KeyCorp cut their target price on shares of TechTarget from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. Craig Hallum lifted their price target on shares of TechTarget from $36.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, StockNews.com assumed coverage on shares of TechTarget in a report on Tuesday. They set a "hold" rating on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, TechTarget currently has an average rating of "Moderate Buy" and an average target price of $38.17.

TechTarget Stock Up 3.1 %

Shares of NASDAQ:TTGT traded up $0.59 during midday trading on Friday, hitting $19.48. 211,206 shares of the company's stock were exchanged, compared to its average volume of 338,342. 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 has a 12 month low of $18.26 and a 12 month high of $33.08. The company has a market cap of $569.50 million, a PE ratio of -46.38, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04. The stock has a 50 day moving average price of $27.16 and a 200-day moving average price of $27.79.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping analysts' consensus estimates 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 in the previous year, the company posted $0.13 EPS. The company's revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that TechTarget will post 0.55 EPS for the current fiscal 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.