TechTarget, Inc. (NASDAQ:TTGT – Get Free Report) shares traded up 4.6% during mid-day trading on Friday . The stock traded as high as $18.72 and last traded at $18.84. 27,203 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 232,283 shares. The stock had previously closed at $18.01.
Analyst Ratings Changes
Several analysts have commented on the stock. KeyCorp dropped their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Lake Street Capital cut their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, December 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.00 target price on shares of TechTarget in a research note on Tuesday, January 21st. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a report on Wednesday, January 15th. Finally, Craig Hallum decreased their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.00.
Get Our Latest Stock Report on TTGT
TechTarget Price Performance
TechTarget (NASDAQ:TTGT – Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The firm had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that TechTarget, Inc. will post 0.55 EPS for the current year.
Hedge Funds Weigh In On TechTarget
Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its position in shares of TechTarget by 399.1% in the third quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock valued at $1,123,000 after buying an additional 36,714 shares during the last quarter. LMR Partners LLP acquired a new stake in TechTarget during the 3rd quarter valued at $526,000. Impax Asset Management Group plc lifted its holdings in TechTarget by 24.9% during the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 70,000 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of TechTarget by 152.7% in the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock valued at $3,921,000 after purchasing an additional 96,896 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of TechTarget by 0.3% in the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after purchasing an additional 1,602 shares during the period. Institutional investors own 93.52% of the company’s stock.
About TechTarget
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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