TechTarget (NASDAQ:TTGT) Stock Passes Above 200 Day Moving Average After Earnings Miss

Key Points

• TechTarget shares climbed above their 200-day moving average of $4.92 after the earnings release, trading as high as $6.70 and last at $6.47 on heavy volume.
• The company reported Q results showing an EPS of ($0.98), missing consensus by $0.59, while revenue of $106.05M slightly beat estimates; profitability metrics remain weak (net margin -207.13%, ROE -14.62%).
• Analysts are split (three Buys, two Sells) with an average rating of "Hold" and a $10.75 average target, and institutional investors own roughly 93.5% of the shares with several recent stake increases.

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) passed above its 200-day moving average during trading on Thursday following a better than expected earnings announcement. The stock has a 200-day moving average of $4.92 and traded as high as $6.70. TechTarget shares last traded at $6.47, with a volume of 1,028,512 shares.

The information services provider reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.59). The company had revenue of $106.05 million for the quarter, compared to the consensus estimate of $104.93 million. TechTarget had a negative return on equity of 14.62% and a negative net margin of 207.13%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TTGT shares. Lake Street Capital cut their price target on shares of TechTarget from $10.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, March 12th. Wall Street Zen upgraded TechTarget from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. Weiss Ratings reiterated a "sell (e+)" rating on shares of TechTarget in a research report on Monday, April 20th. Finally, Needham & Company LLC reiterated a "buy" rating on shares of TechTarget in a research report on Thursday, March 12th. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, TechTarget currently has an average rating of "Hold" and an average target price of $10.75.

Institutional Investors Weigh In On TechTarget

A number of institutional investors and hedge funds have recently made changes to their positions in TTGT. EVR Research LP bought a new stake in TechTarget in the third quarter valued at about $5,868,000. Impax Asset Management Group plc increased its stake in TechTarget by 39.4% in the fourth quarter. Impax Asset Management Group plc now owns 1,238,887 shares of the information services provider's stock valued at $6,690,000 after purchasing an additional 350,000 shares in the last quarter. Alpine Global Management LLC bought a new stake in TechTarget in the fourth quarter valued at approximately $93,000. Rice Hall James & Associates LLC increased its stake in TechTarget by 34.3% in the fourth quarter. Rice Hall James & Associates LLC now owns 1,745,806 shares of the information services provider's stock valued at $9,427,000 after purchasing an additional 446,280 shares in the last quarter. Finally, Legato Capital Management LLC increased its stake in TechTarget by 39.7% in the fourth quarter. Legato Capital Management LLC now owns 21,553 shares of the information services provider's stock valued at $116,000 after purchasing an additional 6,125 shares in the last quarter. Institutional investors own 93.52% of the company's stock.

TechTarget Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market cap of $467.78 million, a P/E ratio of -0.46 and a beta of 1.20. The company's 50 day simple moving average is $4.31 and its 200 day simple moving average is $4.92.

About TechTarget

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.

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