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

TechTarget, Inc. (NASDAQ:TTGT) has received a consensus recommendation of “Hold” from the five analysts that are covering the firm, Marketbeat Ratings reports. Two equities research 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 brokers that have issued a report on the stock in the last year is $10.75.

Several 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. Lake Street Capital decreased their target price on TechTarget from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Weiss Ratings restated a “sell (e+)” rating on shares of TechTarget in a report on Wednesday, January 21st. Finally, Needham & Company LLC restated a “buy” rating on shares of TechTarget in a report on Thursday, March 12th.

Hedge Funds Weigh In On TechTarget

Hedge funds have recently added to or reduced their stakes in the company. Trigran Investments Inc. lifted its holdings in shares of TechTarget by 0.8% during the 3rd quarter. Trigran Investments Inc. now owns 5,013,868 shares of the information services provider’s stock valued at $29,131,000 after purchasing an additional 39,434 shares in the last quarter. Lynrock Lake LP lifted its holdings in shares of TechTarget by 8.4% during the 4th quarter. Lynrock Lake LP now owns 3,385,913 shares of the information services provider’s stock valued at $18,284,000 after purchasing an additional 262,092 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in shares of TechTarget by 34.3% during the 4th 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. Millennium Management LLC lifted its holdings in shares of TechTarget by 1,881.8% during the 3rd quarter. Millennium Management LLC now owns 1,242,193 shares of the information services provider’s stock valued at $7,217,000 after purchasing an additional 1,179,513 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in shares of TechTarget by 39.4% during the 4th 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. Institutional investors own 93.52% of the company’s stock.

TechTarget Stock Performance

TechTarget stock opened at $4.58 on Monday. 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 fifty day moving average price of $4.12 and a two-hundred day moving average price of $4.93. TechTarget has a 52-week low of $3.41 and a 52-week high of $9.47. The firm has a market capitalization of $331.09 million, a P/E ratio of -0.33 and a beta of 0.91.

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

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.