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

Shares of TechTarget, Inc. (NASDAQ:TTGT) have been given a consensus rating of “Hold” by the five analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $10.75.

TTGT has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating on shares of TechTarget in a report on Thursday, March 12th. Weiss Ratings restated a “sell (e+)” rating on shares of TechTarget in a research note on Monday, April 20th. Wall Street Zen upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Lake Street Capital cut their price objective on shares of TechTarget from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, March 12th.

Hedge Funds Weigh In On TechTarget

Several hedge funds have recently made changes to their positions in TTGT. BNP Paribas Financial Markets increased its position in shares of TechTarget by 103.5% during the third quarter. BNP Paribas Financial Markets now owns 5,658 shares of the information services provider’s stock valued at $33,000 after acquiring an additional 2,877 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in TechTarget during the 4th quarter worth approximately $55,000. CWM LLC lifted its position in shares of TechTarget by 454.8% in the fourth quarter. CWM LLC now owns 10,664 shares of the information services provider’s stock valued at $58,000 after acquiring an additional 8,742 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in TechTarget during the 4th quarter valued at approximately $58,000. Finally, Quotient Wealth Partners LLC purchased a new stake in TechTarget in the 4th quarter worth $59,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

TechTarget Stock Performance

TTGT stock opened at $5.02 on Friday. The company has a market capitalization of $362.94 million, a price-to-earnings ratio of -0.65 and a beta of 1.20. TechTarget has a 12 month low of $3.41 and a 12 month high of $9.47. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average of $4.44 and a two-hundred day moving average of $4.92.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Thursday, May 7th. The information services provider reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.59). The business had revenue of $106.05 million for the quarter, compared to analyst estimates of $104.93 million. TechTarget had a negative net margin of 113.65% and a positive return on equity of 5.19%.

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.