TechTarget, Inc. (NASDAQ:TTGT) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• TechTarget, Inc. (NASDAQ:TTGT) has received a consensus rating of "Moderate Buy" from six research firms, with a 12-month average price target of $19.33.
• The company's stock opened at $6.69, with a 1-year price range between $6.49 and $33.08, reflecting significant volatility.
• TechTarget reported a negative earnings per share of ($2.24) for the last quarter, alongside a negative net margin of 188.03%.

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $19.3333.

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

TechTarget Price Performance

Shares of TTGT opened at $6.69 on Wednesday. TechTarget has a 1-year low of $6.49 and a 1-year high of $33.08. The stock has a market cap of $478.27 million, a PE ratio of -15.93 and a beta of 0.96. The firm has a 50-day simple moving average of $7.35 and a two-hundred day simple moving average of $10.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.95.

TechTarget (NASDAQ:TTGT - Get Free Report) last announced its earnings results on Monday, July 14th. The information services provider reported ($2.24) earnings per share for the quarter. TechTarget had a negative return on equity of 31.98% and a negative net margin of 188.03%. The business had revenue of $103.89 million for the quarter. As a group, analysts forecast that TechTarget will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new stake in shares of TechTarget during the 4th quarter worth approximately $103,000. LPL Financial LLC lifted its position in shares of TechTarget by 27.7% during the 4th quarter. LPL Financial LLC now owns 57,403 shares of the information services provider's stock worth $1,138,000 after buying an additional 12,459 shares during the last quarter. Norges Bank purchased a new stake in shares of TechTarget during the 4th quarter worth approximately $1,364,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of TechTarget during the 4th quarter worth approximately $377,000. Finally, Geode Capital Management LLC lifted its position in shares of TechTarget by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 632,704 shares of the information services provider's stock worth $12,543,000 after buying an additional 21,191 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

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.

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