TechTarget (NASDAQ:TTGT) Shares Gap Up – Still a Buy?

Shares of TechTarget, Inc. (NASDAQ:TTGT) gapped up prior to trading on Friday . The stock had previously closed at $18.89, but opened at $19.68. TechTarget shares last traded at $20.11, with a volume of 42,351 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TTGT. StockNews.com started coverage on TechTarget in a research note on Tuesday. They set a “hold” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research report on Wednesday, November 13th. KeyCorp dropped their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Finally, Craig Hallum boosted their price target on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TechTarget presently has an average rating of “Moderate Buy” and a consensus target price of $38.17.

TechTarget Stock Performance

The company has a market capitalization of $580.90 million, a P/E ratio of -47.31, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04. The company’s 50 day moving average is $27.16 and its 200-day moving average is $27.79. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65.

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

Institutional Investors Weigh In On TechTarget

Institutional investors have recently modified their holdings of the stock. BOKF NA bought a new position in TechTarget in the 2nd quarter worth about $239,000. The Manufacturers Life Insurance Company raised its holdings in 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 worth $311,000 after buying an additional 430 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of TechTarget in the third quarter worth approximately $245,000. Intech Investment Management LLC purchased a new stake in shares of TechTarget during the third quarter valued at approximately $257,000. Finally, Quest Partners LLC bought a new stake in shares of TechTarget during the third quarter valued at approximately $272,000. 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.