TechTarget (NASDAQ:TTGT) Sees Unusually-High Trading Volume – Here’s Why

Shares of TechTarget, Inc. (NASDAQ:TTGT) saw unusually-high trading volume on Wednesday . Approximately 228,597 shares traded hands during mid-day 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.

Analysts Set New Price Targets

A number of research analysts have recently commented on TTGT shares. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of TechTarget in a report on Wednesday. Lake Street Capital dropped their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, December 30th. StockNews.com began coverage on shares of TechTarget in a report on Thursday, January 9th. They issued a “hold” rating for the company. KeyCorp dropped their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Finally, Craig Hallum cut their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

TechTarget Price Performance

The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The company has a market cap of $522.43 million, a price-to-earnings ratio of -42.55, a P/E/G ratio of 12.04 and a beta of 1.04. The business has a 50-day moving average price of $24.53 and a 200 day moving average price of $26.66.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, beating the consensus estimate 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 business had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. During the same period in the prior year, the business posted $0.13 earnings per share. TechTarget’s revenue was up 2.4% compared to the same quarter last year. As a group, research analysts expect that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of TechTarget

A number of hedge funds have recently modified their holdings of TTGT. Texas Permanent School Fund Corp raised its position in TechTarget by 10.0% during 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 buying an additional 2,254 shares during the period. American Century Companies Inc. boosted its position in TechTarget by 14.4% during the 2nd quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider’s stock worth $1,078,000 after acquiring an additional 4,352 shares during the period. BOKF NA purchased a new position in TechTarget during the 2nd quarter valued at about $239,000. Envestnet Asset Management Inc. increased its holdings in shares of TechTarget by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock valued at $9,974,000 after purchasing an additional 8,212 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of TechTarget by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock worth $24,717,000 after purchasing an additional 8,681 shares in the last quarter. Hedge funds and other institutional investors 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.