TechTarget (NASDAQ:TTGT) Stock Rating Upgraded by Craig Hallum

Craig Hallum upgraded shares of TechTarget (NASDAQ:TTGT) from a hold rating to a buy rating in a research report released on Tuesday, MarketBeat Ratings reports. The firm currently has $36.00 price objective on the information services provider’s stock, up from their prior price objective of $34.00.

Other research analysts have also recently issued reports about the company. KeyCorp dropped their price target on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Raymond James dropped their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Finally, Needham & Company LLC reduced their price target on TechTarget from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.67.

TechTarget Stock Performance

TechTarget stock opened at $29.00 on Tuesday. 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 stock has a market cap of $847.96 million, a PE ratio of -96.67, a P/E/G ratio of 28.27 and a beta of 1.06. TechTarget has a 12-month low of $22.82 and a 12-month high of $41.93. The business’s 50-day moving average price is $25.34 and its two-hundred day moving average price is $28.52.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share (EPS) 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 analyst estimates of $58.08 million. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. As a group, analysts expect that TechTarget will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TechTarget

A number of hedge funds have recently made changes to their positions in the stock. BOKF NA bought a new stake in TechTarget in the second quarter valued at approximately $239,000. SG Americas Securities LLC bought a new stake in shares of TechTarget in the 3rd quarter valued at $307,000. The Manufacturers Life Insurance Company boosted its stake in shares of TechTarget by 4.5% in the 2nd 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 last quarter. Riverwater Partners LLC acquired a new stake in shares of TechTarget during the second quarter worth $350,000. Finally, Inspire Investing LLC raised its stake in TechTarget by 4.3% during the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock worth $355,000 after buying an additional 469 shares during the last quarter. 93.52% of the stock is currently 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.