TechTarget, Inc. (NASDAQ:TTGT) Given Consensus Rating of “Moderate Buy” by Analysts

TechTarget, Inc. (NASDAQ:TTGT) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $32.00.

A number of brokerages have recently weighed in on TTGT. Craig Hallum lowered their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. StockNews.com assumed coverage on shares of TechTarget in a research report on Friday, January 17th. They issued a “hold” rating for the company. Lake Street Capital lowered their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. KeyCorp dropped their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 target price on shares of TechTarget in a research report on Tuesday.

Hedge Funds Weigh In On TechTarget

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC boosted its position in shares of TechTarget by 2.5% during the third quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after buying an additional 60,191 shares during the period. Dimensional Fund Advisors LP boosted its holdings in TechTarget by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock worth $24,717,000 after purchasing an additional 8,681 shares during the last quarter. Geode Capital Management LLC grew its position in TechTarget by 0.3% in the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after purchasing an additional 1,602 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in TechTarget by 19.2% in 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 buying an additional 82,626 shares during the last quarter. Finally, Earnest Partners LLC lifted its position in TechTarget by 6.3% during the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock worth $15,451,000 after buying an additional 29,375 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

TechTarget Price Performance

NASDAQ:TTGT opened at $17.63 on Friday. 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 firm has a market cap of $515.50 million, a PE ratio of -41.98, a price-to-earnings-growth ratio of 8.68 and a beta of 1.04. TechTarget has a 12 month low of $17.18 and a 12 month high of $33.08. The company’s 50-day moving average price is $23.24 and its two-hundred day moving average price is $26.19.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The business had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. During the same period in the previous year, the business earned $0.13 EPS. TechTarget’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that TechTarget will post 0.55 EPS for the current fiscal year.

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.