TechTarget (NASDAQ:TTGT) Shares Up 4.6% - Time to Buy?

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) shares were up 4.6% during mid-day trading on Friday . The stock traded as high as $18.72 and last traded at $18.84. Approximately 27,203 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 232,283 shares. The stock had previously closed at $18.01.

Analyst Upgrades and Downgrades

Several research firms have commented on TTGT. StockNews.com started coverage on shares of TechTarget in a research note on Saturday. They set a "hold" rating on the stock. Craig Hallum decreased their target price on shares of TechTarget from $40.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. restated a "neutral" rating and set a $18.00 target price on shares of TechTarget in a report on Tuesday. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price target on shares of TechTarget in a report on Wednesday, January 15th. Finally, Lake Street Capital dropped their price target on TechTarget from $36.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, December 30th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, TechTarget presently has an average rating of "Moderate Buy" and a consensus target price of $32.00.

TechTarget Price Performance

The company has a market cap of $528.66 million, a PE ratio of -43.05, a P/E/G ratio of 9.95 and a beta of 1.04. The firm has a 50 day moving average of $22.50 and a two-hundred day moving average of $25.94. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65.

TechTarget (NASDAQ:TTGT - Get Free Report) last posted its earnings results 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 business 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 company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. Research analysts predict that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its position in shares of TechTarget by 152.7% during the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider's stock worth $3,921,000 after purchasing an additional 96,896 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of 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 valued at $12,545,000 after purchasing an additional 82,626 shares during the period. Impax Asset Management Group plc grew its stake in TechTarget by 24.9% in the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider's stock worth $8,591,000 after acquiring an additional 70,000 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in TechTarget by 31.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider's stock worth $6,780,000 after purchasing an additional 66,766 shares during the period. Finally, 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 worth $60,042,000 after acquiring an additional 60,191 shares during the period. 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.