TechTarget (NASDAQ:TTGT) Sees Strong Trading Volume - Still a Buy?

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) shares saw strong trading volume on Wednesday . 228,597 shares were traded during trading, an increase of 23% from the previous session's volume of 185,927 shares.The stock last traded at $18.10 and had previously closed at $17.84.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TTGT shares. Needham & Company LLC restated a "buy" rating and set a $40.00 price objective on shares of TechTarget in a research report on Wednesday. StockNews.com assumed coverage on TechTarget in a report on Thursday, January 9th. They set a "hold" rating on the stock. Lake Street Capital dropped their price objective 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. Craig Hallum reduced their target price on shares of TechTarget from $40.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, KeyCorp decreased their price target on shares of TechTarget from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

TechTarget Stock Down 2.2 %

The stock's 50-day moving average price is $24.28 and its 200-day moving average price is $26.59. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The stock has a market cap of $509.86 million, a price-to-earnings ratio of -41.52, a P/E/G ratio of 12.04 and a beta of 1.04.

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

Institutional Investors Weigh In On TechTarget

Several large investors have recently added to or reduced their stakes in TTGT. FMR LLC lifted its stake in TechTarget by 2.5% in the third quarter. FMR LLC now owns 2,455,705 shares of the information services provider's stock valued at $60,042,000 after buying an additional 60,191 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of TechTarget by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider's stock valued at $24,717,000 after acquiring an additional 8,681 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of TechTarget by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider's stock valued at $14,955,000 after acquiring an additional 1,602 shares during the period. Rockefeller Capital Management L.P. boosted its stake in TechTarget by 19.2% during the third quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider's stock worth $12,545,000 after acquiring an additional 82,626 shares in the last quarter. Finally, Earnest Partners LLC grew its holdings in TechTarget by 6.3% in the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider's stock worth $15,451,000 after purchasing an additional 29,375 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.