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

StockNews.com initiated coverage on shares of TechTarget (NASDAQ:TTGT - Free Report) in a research note released on Wednesday morning. The brokerage issued a hold rating on the information services provider's stock.

TTGT has been the topic of several other research reports. Craig Hallum upped their price objective on shares of TechTarget from $36.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. KeyCorp dropped their price target on TechTarget from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price objective on shares of TechTarget in a research note on Wednesday, November 13th. Finally, Lake Street Capital decreased their price objective on TechTarget from $36.00 to $24.00 and set a "buy" rating for the company in a report on Monday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $36.14.

TechTarget Trading Down 1.3 %

Shares of TechTarget stock traded down $0.27 on Wednesday, hitting $19.82. 205,077 shares of the company's stock traded hands, compared to its average volume of 327,115. The company has a fifty day moving average of $26.41 and a two-hundred day moving average of $27.45. TechTarget has a one year low of $18.26 and a one year high of $33.08. The company has a market capitalization of $579.44 million, a price-to-earnings ratio of -47.19, a price-to-earnings-growth ratio of 12.04 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 announced its quarterly earnings data 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. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The company had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. During the same quarter last year, the firm posted $0.13 EPS. The company's quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts expect that TechTarget will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On TechTarget

Large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its position in TechTarget by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider's stock valued at $311,000 after buying an additional 430 shares during the period. 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. Geode Capital Management LLC lifted its stake in TechTarget by 0.3% in the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider's stock valued at $14,955,000 after purchasing an additional 1,602 shares during the last quarter. Sei Investments Co. grew its holdings in TechTarget by 5.1% during the second quarter. Sei Investments Co. now owns 34,543 shares of the information services provider's stock valued at $1,077,000 after purchasing an additional 1,690 shares during the period. Finally, Texas Permanent School Fund Corp increased 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 buying an additional 2,254 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

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.