TechTarget, Inc. (NASDAQ:TTGT) Short Interest Update

TechTarget, Inc. (NASDAQ:TTGT) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 587,800 shares, an increase of 19.9% from the January 31st total of 490,200 shares. Currently, 5.0% of the shares of the company are sold short. Based on an average daily trading volume, of 258,000 shares, the days-to-cover ratio is currently 2.3 days.

TechTarget Stock Performance

NASDAQ:TTGT opened at $14.97 on Thursday. The company has a 50-day moving average of $17.20 and a 200-day moving average of $23.11. The firm has a market cap of $437.65 million, a price-to-earnings ratio of -35.64, a price-to-earnings-growth ratio of 113.92 and a beta of 1.02. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a twelve month low of $13.51 and a twelve month high of $35.11.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TTGT. KBC Group NV raised its position in shares of TechTarget by 79.1% during the fourth quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock worth $43,000 after purchasing an additional 962 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in TechTarget during the 4th quarter worth about $103,000. MeadowBrook Investment Advisors LLC boosted its holdings in shares of TechTarget by 26.4% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider’s stock worth $169,000 after buying an additional 1,780 shares during the period. Quantbot Technologies LP purchased a new position in shares of TechTarget in the fourth quarter worth approximately $173,000. Finally, State of Tennessee Department of Treasury raised its holdings in shares of TechTarget by 8.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider’s stock valued at $239,000 after acquiring an additional 910 shares during the period. Institutional investors own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

TTGT has been the topic of a number of analyst reports. Raymond James cut shares of TechTarget from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. StockNews.com assumed coverage on TechTarget in a report on Monday, February 10th. They set a “hold” rating on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 target price on shares of TechTarget in a research report on Tuesday, January 21st. Lake Street Capital reduced their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.14.

TechTarget Company Profile

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.