TechTarget (NASDAQ:TTGT) Shares Gap Up – Here’s What Happened

by · The Cerbat Gem

Shares of TechTarget, Inc. (NASDAQ:TTGT – Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $25.16, but opened at $25.94. TechTarget shares last traded at $27.28, with a volume of 103,117 shares.

Analyst Ratings Changes

A number of analysts have recently commented on TTGT shares. Needham & Company LLC dropped their price objective on TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, September 16th. Craig Hallum upgraded TechTarget from a “hold” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $36.00 in a report on Tuesday. Raymond James dropped their price objective on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Finally, KeyCorp lowered their price target on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, TechTarget currently has an average rating of “Moderate Buy” and an average target price of $37.67.

Read Our Latest Analysis on TechTarget

TechTarget Trading Down 1.3 %

The stock has a market capitalization of $803.52 million, a price-to-earnings ratio of -91.60, a P/E/G ratio of 28.27 and a beta of 1.06. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.35 and a current ratio of 9.35. The firm has a fifty day moving average of $25.32 and a 200-day moving average of $28.55.

TechTarget (NASDAQ:TTGT – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. The business had revenue of $58.91 million for the quarter, compared to analysts’ expectations of $58.08 million. During the same quarter last year, the company posted $0.17 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts predict that TechTarget, Inc. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TechTarget

A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its holdings in TechTarget by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after acquiring an additional 430 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in TechTarget by 2.1% in the first quarter. Texas Permanent School Fund Corp now owns 22,630 shares of the information services provider’s stock worth $749,000 after acquiring an additional 456 shares during the last quarter. Inspire Investing LLC increased its stake in shares of TechTarget by 4.3% in the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after purchasing an additional 469 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of TechTarget by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock valued at $381,000 after purchasing an additional 959 shares during the period. Finally, Swiss National Bank increased its stake in shares of TechTarget by 2.2% in the first quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock valued at $1,671,000 after purchasing an additional 1,100 shares during the period. Institutional investors own 93.52% of the company’s stock.

TechTarget Company Profile

(Get Free Report)

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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