Brokerages Set TechTarget, Inc. (NASDAQ:TTGT) Target Price at $39.00

TechTarget, Inc. (NASDAQ:TTGT) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $37.33.

TTGT has been the subject of a number of recent research reports. Raymond James decreased their price objective on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. KeyCorp dropped their price objective on TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Finally, Needham & Company LLC reduced their target price on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 16th.

Institutional Investors Weigh In On TechTarget

Several institutional investors have recently added to or reduced their stakes in the business. BOKF NA purchased a new position in TechTarget in the 2nd quarter valued at approximately $239,000. Aigen Investment Management LP boosted its holdings in shares of TechTarget by 6.6% in the fourth quarter. Aigen Investment Management LP now owns 7,712 shares of the information services provider’s stock worth $269,000 after acquiring an additional 476 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of TechTarget by 4.5% in 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 purchasing an additional 430 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of TechTarget by 37.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock valued at $370,000 after purchasing an additional 2,790 shares during the period. Finally, Inspire Investing LLC purchased a new stake in TechTarget during the 1st quarter worth about $361,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

TechTarget Price Performance

Shares of NASDAQ:TTGT opened at $25.14 on Friday. TechTarget has a twelve month low of $23.11 and a twelve month high of $41.93. The stock’s 50 day moving average is $28.02 and its 200-day moving average is $29.48. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $717.72 million, a price-to-earnings ratio of -100.56, a PEG ratio of 27.12 and a beta of 1.07.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Thursday, August 8th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. The firm had revenue of $58.91 million during the quarter, compared to analysts’ expectations of $58.08 million. During the same period last year, the company earned $0.17 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Sell-side analysts forecast that TechTarget will post 0.5 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.