TechTarget (NASDAQ:TTGT) Shares Gap Up – What’s Next?

TechTarget, Inc. (NASDAQ:TTGT)’s share price gapped up prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TTGT shares. Raymond James reduced their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Needham & Company LLC dropped their price target on TechTarget from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Craig Hallum upgraded TechTarget from a “hold” rating to a “buy” rating and boosted their price target for the company from $34.00 to $36.00 in a research report on Tuesday. Finally, KeyCorp dropped their target price on TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

TechTarget Price Performance

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 company has a 50-day simple moving average of $25.32 and a 200-day simple moving average of $28.55. The company has a market cap of $803.52 million, a price-to-earnings ratio of -91.60, a PEG ratio of 28.27 and a beta of 1.06.

TechTarget (NASDAQ:TTGT) last announced 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 positive return on equity of 5.92% and a negative net margin of 3.84%. The business had revenue of $58.91 million for the quarter, compared to analyst estimates of $58.08 million. During the same quarter in the previous year, the company earned $0.17 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts predict that TechTarget, Inc. will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its stake in shares of TechTarget by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after purchasing an additional 430 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of TechTarget by 2.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 22,630 shares of the information services provider’s stock worth $749,000 after purchasing an additional 456 shares during the period. Inspire Investing LLC increased its holdings in shares of TechTarget by 4.3% during the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock worth $355,000 after buying an additional 469 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of TechTarget by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock worth $381,000 after buying an additional 959 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of TechTarget by 2.2% during the 1st quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock worth $1,671,000 after buying an additional 1,100 shares during the last quarter. Hedge funds and other 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.