TechTarget (NASDAQ:TTGT) Shares Gap Up - What's Next?

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $18.89, but opened at $19.68. TechTarget shares last traded at $20.11, with a volume of 42,351 shares changing hands.

Analysts Set New Price Targets

TTGT has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of TechTarget in a research report on Tuesday. They issued a "hold" rating for the company. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price objective on shares of TechTarget in a report on Wednesday, November 13th. KeyCorp cut their target price on TechTarget from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. Finally, Craig Hallum increased their price target on TechTarget from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $38.17.

TechTarget Price Performance

The business has a 50-day simple moving average of $27.16 and a two-hundred day simple moving average of $27.79. 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 stock has a market capitalization of $569.50 million, a price-to-earnings ratio of -46.38, a P/E/G ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT - Get Free Report) last posted 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. The company had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 EPS. As a group, research analysts predict that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Large investors have recently made changes to their positions in the business. Texas Permanent School Fund Corp lifted its stake in TechTarget by 10.0% during the second quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider's stock valued at $776,000 after purchasing an additional 2,254 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of TechTarget by 21.2% in the second quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider's stock valued at $7,560,000 after buying an additional 42,374 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of TechTarget by 14.4% during the 2nd quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider's stock worth $1,078,000 after acquiring an additional 4,352 shares in the last quarter. BOKF NA bought a new stake in shares of TechTarget during the 2nd quarter worth $239,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of TechTarget by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider's stock worth $9,974,000 after acquiring an additional 8,212 shares during the last quarter. Institutional investors 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.