TechTarget (NASDAQ:TTGT) Trading Up 7.7% - Should You Buy?

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) shares rose 7.7% during trading on Monday . The stock traded as high as $7.56 and last traded at $7.47. Approximately 480,189 shares were traded during trading, an increase of 77% from the average daily volume of 271,427 shares. The stock had previously closed at $6.94.

Analysts Set New Price Targets

TTGT has been the topic of a number of recent research reports. Craig Hallum initiated coverage on TechTarget in a research report on Monday, June 9th. They set a "buy" rating and a $12.00 price objective on the stock. JPMorgan Chase & Co. cut TechTarget from a "neutral" rating to an "underweight" rating and dropped their price objective for the stock from $18.00 to $8.00 in a research note on Tuesday, June 10th. Lake Street Capital lowered their target price on TechTarget from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Wall Street Zen upgraded 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 objective on shares of TechTarget in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, TechTarget presently has a consensus rating of "Hold" and an average target price of $19.33.

TechTarget Price Performance

The business's fifty day moving average price is $7.43 and its 200 day moving average price is $11.41. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.13.

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

Institutional Investors Weigh In On TechTarget

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in TechTarget by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 226,036 shares of the information services provider's stock worth $4,480,000 after acquiring an additional 6,074 shares in the last quarter. Quantbot Technologies LP bought a new position in TechTarget during the 4th quarter worth approximately $173,000. KLP Kapitalforvaltning AS bought a new position in TechTarget during the 4th quarter worth approximately $103,000. LPL Financial LLC raised its holdings in 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 purchasing an additional 12,459 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in TechTarget by 25.0% during the 4th quarter. Zions Bancorporation N.A. now owns 54,492 shares of the information services provider's stock worth $1,080,000 after purchasing an additional 10,898 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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