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

Shares of TechTarget, Inc. (NASDAQ:TTGT) have received an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $37.33.

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

TechTarget Trading Up 3.3 %

Shares of TTGT stock opened at $25.50 on Friday. TechTarget has a 12-month low of $23.11 and a 12-month high of $41.93. The company has a market capitalization of $728.54 million, a P/E ratio of -102.00, a P/E/G ratio of 27.12 and a beta of 1.07. The firm has a 50-day moving average price of $28.17 and a 200 day moving average price of $29.54. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share for the quarter, topping 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 company had revenue of $58.91 million during the quarter, compared to the consensus estimate of $58.08 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Research analysts forecast that TechTarget will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Institutional investors have recently modified their holdings of the business. BOKF NA acquired a new stake in shares of TechTarget during the 2nd quarter worth approximately $239,000. Aigen Investment Management LP grew its holdings in TechTarget by 6.6% during the fourth quarter. Aigen Investment Management LP now owns 7,712 shares of the information services provider’s stock valued at $269,000 after purchasing an additional 476 shares during the period. The Manufacturers Life Insurance Company grew its holdings in TechTarget by 4.5% during 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 during the period. Riverwater Partners LLC acquired a new position in TechTarget during the second quarter valued at approximately $350,000. Finally, Inspire Investing LLC grew its holdings in TechTarget by 4.3% during the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after purchasing an additional 469 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.