TechTarget (NASDAQ:TTGT) Stock Price Up 4.6% – Should You Buy?

Shares of TechTarget, Inc. (NASDAQ:TTGT) rose 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 trading, a decline of 88% from the average daily volume of 232,283 shares. The stock had previously closed at $18.01.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TTGT shares. Lake Street Capital cut their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, December 30th. StockNews.com began coverage on shares of TechTarget in a research note on Friday, January 17th. They set a “hold” rating for the company. Craig Hallum dropped their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. KeyCorp dropped their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of TechTarget in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, TechTarget has an average rating of “Moderate Buy” and a consensus target price of $32.00.

TechTarget Stock Up 4.7 %

The company has a market capitalization of $551.32 million, a price-to-earnings ratio of -44.89, a PEG ratio of 9.95 and a beta of 1.04. 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’s 50 day simple moving average is $22.95 and its 200-day simple moving average is $26.13.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $58.14 million. During the same period in the prior year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TTGT. Harbor Capital Advisors Inc. grew its holdings in shares of TechTarget by 152.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after acquiring an additional 96,896 shares during the period. Rockefeller Capital Management L.P. raised 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 worth $12,545,000 after buying an additional 82,626 shares during the last quarter. Impax Asset Management Group plc boosted its position in shares of 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 buying an additional 70,000 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its stake in TechTarget by 31.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock valued at $6,780,000 after acquiring an additional 66,766 shares during the last quarter. Finally, FMR LLC increased its holdings in TechTarget by 2.5% during the 3rd quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock valued at $60,042,000 after acquiring an additional 60,191 shares in the last quarter. 93.52% of the stock is 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.