Brokerages Set TechTarget, Inc. (NASDAQ:TTGT) Target Price at $19.33

Shares of TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $19.33.

TTGT has been the topic of a number of research analyst reports. Wall Street Zen raised TechTarget from a "sell" rating to a "hold" rating in a report on Saturday, April 26th. Craig Hallum initiated coverage on TechTarget in a report on Monday, June 9th. They issued a "buy" rating and a $12.00 target price on the stock. Lake Street Capital lowered their target price on TechTarget from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. JPMorgan Chase & Co. lowered TechTarget from a "neutral" rating to an "underweight" rating and decreased their price objective for the stock from $18.00 to $8.00 in a report on Tuesday, June 10th. Finally, Needham & Company LLC reissued a "buy" rating and set a $15.00 price objective on shares of TechTarget in a report on Wednesday, July 2nd.

TechTarget Stock Up 3.4%

Shares of TTGT traded up $0.24 during midday trading on Friday, reaching $7.41. 289,895 shares of the stock were exchanged, compared to its average volume of 262,575. The firm has a 50 day simple moving average of $7.51 and a 200-day simple moving average of $11.84. TechTarget has a 12-month low of $6.49 and a 12-month high of $35.11. The company has a market cap of $529.95 million, a price-to-earnings ratio of -17.64 and a beta of 1.02.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its quarterly earnings data on Monday, July 14th. The information services provider reported ($2.24) earnings per share for the quarter. TechTarget had a negative net margin of 193.29% and a negative return on equity of 125.41%. The company had revenue of $103.89 million during the quarter. Research analysts expect that TechTarget will post -0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TechTarget

A number of institutional investors have recently made changes to their positions in TTGT. GAMMA Investing LLC grew its stake in shares of TechTarget by 4,513.8% during the second quarter. GAMMA Investing LLC now owns 5,029 shares of the information services provider's stock worth $39,000 after purchasing an additional 4,920 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of TechTarget during the fourth quarter worth about $103,000. PNC Financial Services Group Inc. raised its holdings in TechTarget by 18.7% during the first quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider's stock worth $145,000 after acquiring an additional 1,541 shares in the last quarter. Quantbot Technologies LP bought a new stake in TechTarget during the fourth quarter worth about $173,000. Finally, Louisiana State Employees Retirement System bought a new stake in TechTarget in the first quarter valued at approximately $190,000. 93.52% of the stock is owned by institutional investors and hedge funds.

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.