StockNews.com Initiates Coverage on TechTarget (NASDAQ:TTGT)

Equities researchers at StockNews.com assumed coverage on shares of TechTarget (NASDAQ:TTGT - Get Free Report) in a research report issued on Thursday. The brokerage set a "hold" rating on the information services provider's stock.

Several other equities analysts have also commented on the company. Craig Hallum boosted their price target on TechTarget from $36.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. KeyCorp reduced their target price on shares of TechTarget from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. Finally, Lake Street Capital dropped their price target on shares of TechTarget from $36.00 to $24.00 and set a "buy" rating on the stock in a research note on Monday, December 30th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $36.14.

TechTarget Trading Down 1.0 %

Shares of NASDAQ TTGT traded down $0.19 during trading on Thursday, hitting $18.74. 204,103 shares of the company traded hands, compared to its average volume of 169,801. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $547.86 million, a P/E ratio of -44.62, a P/E/G ratio of 12.04 and a beta of 1.04. The company has a 50-day moving average price of $25.36 and a 200-day moving average price of $27.04. TechTarget has a 1 year low of $18.26 and a 1 year high of $33.08.

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

Institutional Investors Weigh In On TechTarget

A number of institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its stake in TechTarget by 399.1% during the third quarter. Barclays PLC now owns 45,914 shares of the information services provider's stock worth $1,123,000 after purchasing an additional 36,714 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of TechTarget by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider's stock worth $14,955,000 after buying an additional 1,602 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of TechTarget by 54.0% in the 3rd quarter. M&T Bank Corp now owns 32,523 shares of the information services provider's stock valued at $795,000 after buying an additional 11,398 shares during the period. Jane Street Group LLC grew its position in shares of TechTarget by 15.4% during the 3rd quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider's stock valued at $912,000 after buying an additional 4,988 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in TechTarget by 31.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider's stock worth $6,780,000 after acquiring an additional 66,766 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

TechTarget Company Profile

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.