TechTarget (NASDAQ:TTGT - Get Free Report) was upgraded by equities research analysts at Craig Hallum from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday, FinViz reports. The brokerage presently has a $36.00 price target on the information services provider's stock, up from their previous price target of $34.00. Craig Hallum's price objective indicates a potential upside of 43.08% from the company's previous close.
Several other equities analysts have also commented on the company. Needham & Company LLC lowered their price objective on TechTarget from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, September 16th. Raymond James lowered their price target on shares of TechTarget from $39.00 to $34.00 and set an "outperform" rating for the company in a research report on Monday, August 12th. Finally, KeyCorp cut their price objective on shares of TechTarget from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.67.
Get Our Latest Analysis on TechTarget
Shares of TTGT stock opened at $25.16 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.35 and a current ratio of 9.35. TechTarget has a fifty-two week low of $22.82 and a fifty-two week high of $41.93. The firm has a market cap of $735.68 million, a P/E ratio of -83.87, a P/E/G ratio of 26.01 and a beta of 1.06. The business's 50 day moving average price is $25.38 and its 200-day moving average price is $28.60.
TechTarget (NASDAQ:TTGT - Get Free Report) 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 business had revenue of $58.91 million for the quarter, compared to the consensus estimate of $58.08 million. During the same period in the previous year, the firm earned $0.17 EPS. The company's quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that TechTarget will post 0.5 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BOKF NA bought a new position in TechTarget during the 2nd quarter valued at about $239,000. SG Americas Securities LLC purchased a new position in shares of TechTarget during the third quarter valued at approximately $307,000. The Manufacturers Life Insurance Company lifted its position 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 purchased a new stake in TechTarget in the second quarter worth approximately $350,000. Finally, Inspire Investing LLC grew its position in TechTarget by 4.3% in the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider's stock worth $355,000 after purchasing an additional 469 shares during the period. 93.52% of the stock is owned by institutional investors.
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.
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