TechTarget (NASDAQ:TTGT) Trading 4% Higher

TechTarget, Inc. (NASDAQ:TTGT)’s stock price traded up 4% during mid-day trading on Friday . The company traded as high as $26.41 and last traded at $26.41. 1,924 shares traded hands during trading, a decline of 98% from the average session volume of 121,850 shares. The stock had previously closed at $25.39.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. KeyCorp decreased their target price on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of TechTarget in a research report on Friday, August 9th. Craig Hallum dropped their target price on shares of TechTarget from $41.00 to $34.00 and set a “hold” rating on the stock in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of TechTarget from $40.00 to $33.00 and set a “hold” rating for the company in a research note on Friday, May 10th. Finally, Raymond James dropped their price target on TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.00.

TechTarget Stock Down 3.0 %

The company’s 50 day moving average price is $29.63 and its two-hundred day moving average price is $30.09. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 1.74. The firm has a market cap of $703.39 million, a PE ratio of -98.48, a PEG ratio of 29.94 and a beta of 1.07.

TechTarget (NASDAQ:TTGT) last released its earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of $58.91 million for the quarter, compared to the consensus estimate of $58.08 million. TechTarget had a positive return on equity of 5.92% and a negative net margin of 3.84%. TechTarget’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. On average, equities research analysts expect that TechTarget, Inc. will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On TechTarget

A number of hedge funds have recently modified their holdings of the company. Trigran Investments Inc. boosted its stake in shares of TechTarget by 2.1% in the fourth quarter. Trigran Investments Inc. now owns 2,726,635 shares of the information services provider’s stock worth $95,050,000 after acquiring an additional 55,125 shares during the period. Dimensional Fund Advisors LP boosted its stake in TechTarget by 1.1% in the 2nd 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 period. Eagle Asset Management Inc. grew its holdings in TechTarget by 27.0% during the 4th quarter. Eagle Asset Management Inc. now owns 531,470 shares of the information services provider’s stock valued at $18,527,000 after buying an additional 112,960 shares in the last quarter. Earnest Partners LLC raised its position in shares of TechTarget by 6.3% during the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after buying an additional 29,375 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of TechTarget by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock worth $9,974,000 after buying an additional 8,212 shares in 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.