TechTarget, Inc. (NASDAQ:TTGT) Receives $10.75 Average Target Price from Analysts

Shares of TechTarget, Inc. (NASDAQ:TTGT) have been given an average recommendation of “Hold” by the five research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $10.75.

A number of equities analysts have recently commented on TTGT shares. Wall Street Zen upgraded TechTarget from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of TechTarget in a research report on Wednesday, January 21st. Needham & Company LLC restated a “buy” rating on shares of TechTarget in a report on Thursday, March 12th. Finally, Lake Street Capital reduced their price target on shares of TechTarget from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th.

TechTarget Price Performance

Shares of TechTarget stock opened at $3.79 on Thursday. TechTarget has a 12 month low of $3.41 and a 12 month high of $15.55. The business has a 50 day simple moving average of $4.63 and a two-hundred day simple moving average of $5.22. The stock has a market capitalization of $273.98 million, a P/E ratio of -0.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 1.23.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, March 11th. The information services provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.48). TechTarget had a negative return on equity of 14.62% and a negative net margin of 207.13%.The firm had revenue of $140.68 million during the quarter, compared to analysts’ expectations of $140.91 million. As a group, analysts predict that TechTarget will post -0.46 EPS for the current fiscal year.

Institutional Trading of TechTarget

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in TechTarget by 103.5% in the third quarter. BNP Paribas Financial Markets now owns 5,658 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 2,877 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of TechTarget in the fourth quarter valued at about $55,000. CWM LLC grew its stake in shares of TechTarget by 454.8% in the fourth quarter. CWM LLC now owns 10,664 shares of the information services provider’s stock valued at $58,000 after buying an additional 8,742 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in shares of TechTarget during the 4th quarter valued at about $58,000. Finally, Quotient Wealth Partners LLC acquired a new position in TechTarget during the 4th quarter worth approximately $59,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

TechTarget Company Profile

TechTarget, Inc operates as a specialized media and information services company focused on the technology sector. Through a network of over 140 online channels and dedicated sites covering a wide range of IT topics—from cloud computing and cybersecurity to data analytics and storage—the company delivers targeted content, research, and insights to enterprise technology buyers. TechTarget’s offerings enable technology vendors and service providers to engage with qualified audiences at every stage of the purchasing cycle.

The company’s core products include purchase intent data solutions and lead-generation platforms designed to identify and nurture prospects actively researching technology solutions.