TechTarget (NASDAQ:TTGT) Receives Neutral Rating from JPMorgan Chase & Co.

TechTarget (NASDAQ:TTGT)‘s stock had its “neutral” rating reissued by research analysts at JPMorgan Chase & Co. in a research note issued on Tuesday,Benzinga reports. They presently have a $18.00 target price on the information services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 3.51% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a research note on Wednesday, January 15th. Lake Street Capital decreased their target price on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Craig Hallum lowered their target price on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. StockNews.com initiated coverage on TechTarget in a research note on Friday. They issued a “hold” rating on the stock. Finally, KeyCorp lowered their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, TechTarget presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

TechTarget Stock Performance

TechTarget stock opened at $17.39 on Tuesday. TechTarget has a fifty-two week low of $17.18 and a fifty-two week high of $33.08. The stock’s 50 day simple moving average is $23.51 and its two-hundred day simple moving average is $26.28. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The stock has a market cap of $508.48 million, a price-to-earnings ratio of -41.40, a PEG ratio of 8.68 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05. The company had revenue of $58.47 million for 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 firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. As a group, analysts expect that TechTarget will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Several large investors have recently bought and sold shares of the business. Cornercap Investment Counsel Inc. purchased a new stake in TechTarget in the third quarter worth approximately $245,000. Intech Investment Management LLC purchased a new position in TechTarget in the third quarter worth about $257,000. Quest Partners LLC bought a new stake in shares of TechTarget during the 3rd quarter valued at about $272,000. SG Americas Securities LLC bought a new stake in shares of TechTarget during the 3rd quarter valued at about $307,000. Finally, The Manufacturers Life Insurance Company increased its holdings 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 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.