TechTarget (NASDAQ:TTGT) Sees Large Volume Increase – Time to Buy?

Shares of TechTarget, Inc. (NASDAQ:TTGT) saw strong trading volume on Wednesday . 228,597 shares changed hands during trading, an increase of 23% from the previous session’s volume of 185,927 shares.The stock last traded at $18.10 and had previously closed at $17.84.

Analyst Ratings Changes

TTGT has been the topic of several analyst reports. KeyCorp dropped their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Craig Hallum cut their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of TechTarget in a research note on Wednesday. Lake Street Capital lowered their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, December 30th. Finally, StockNews.com started coverage on TechTarget in a research note on Thursday, January 9th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.00.

TechTarget Price Performance

The company has a 50-day moving average of $24.53 and a 200 day moving average of $26.66. 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 firm has a market cap of $522.43 million, a P/E ratio of -42.55, a P/E/G ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating 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 company had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. During the same period last year, the business earned $0.13 earnings per share. The business’s revenue 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 year.

Institutional Trading of TechTarget

Several large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of TechTarget by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after buying an additional 430 shares during the period. Inspire Investing LLC boosted its stake in TechTarget by 4.3% during the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock worth $355,000 after acquiring an additional 469 shares during the last quarter. Geode Capital Management LLC grew its holdings in TechTarget by 0.3% during 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 during the period. Sei Investments Co. increased its stake in TechTarget by 5.1% in the second quarter. Sei Investments Co. now owns 34,543 shares of the information services provider’s stock valued at $1,077,000 after purchasing an additional 1,690 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in TechTarget by 10.0% in the second quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock valued at $776,000 after purchasing an additional 2,254 shares in the last quarter. 93.52% of the stock is owned by 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.