TechTarget (NASDAQ:TTGT) Shares Gap Up – Time to Buy?

Shares of TechTarget, Inc. (NASDAQ:TTGT) 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.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. StockNews.com began coverage on TechTarget in a report on Tuesday. They set a “hold” rating on the stock. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of TechTarget in a research note on Wednesday, November 13th. KeyCorp reduced their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, Craig Hallum increased their price objective on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, TechTarget presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.17.

TechTarget Trading Up 5.2 %

The stock has a 50 day simple moving average of $27.16 and a 200-day simple moving average of $27.79. 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 firm has a market capitalization of $580.90 million, a P/E ratio of -47.31, a P/E/G ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $58.14 million. During the same period in the previous year, the business posted $0.13 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Several hedge funds and other institutional investors have recently modified their holdings of TTGT. Harbor Capital Advisors Inc. grew its holdings in TechTarget by 152.7% during the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock valued at $3,921,000 after purchasing an additional 96,896 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of TechTarget by 19.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock valued at $12,545,000 after acquiring an additional 82,626 shares during the period. Impax Asset Management Group plc increased its holdings 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 raised its stake 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 acquiring an additional 66,766 shares during the period. Finally, FMR LLC lifted its holdings in TechTarget by 2.5% during the third quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock valued at $60,042,000 after purchasing an additional 60,191 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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.