TechTarget (NASDAQ:TTGT) Shares Gap Up – Still a Buy?

Shares of TechTarget, Inc. (NASDAQ:TTGT) gapped up prior to trading on Tuesday . The stock had previously closed at $31.54, but opened at $33.08. TechTarget shares last traded at $26.63, with a volume of 70,742 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Raymond James reduced their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of TechTarget in a research note on Wednesday, November 13th. KeyCorp dropped their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. StockNews.com started coverage on TechTarget in a research report on Wednesday, November 27th. They issued a “hold” rating on the stock. Finally, Craig Hallum lifted their price objective on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, TechTarget presently has an average rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Price Performance

The stock has a fifty day moving average of $28.19 and a 200-day moving average of $28.85. The firm has a market capitalization of $710.24 million, a P/E ratio of -63.40, a PEG ratio of 18.13 and a beta of 1.04. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The company had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. TechTarget’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 earnings per share. Equities analysts predict that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BOKF NA bought a new stake in TechTarget during the 2nd quarter worth about $239,000. Cornercap Investment Counsel Inc. bought a new stake in shares of TechTarget during the third quarter worth approximately $245,000. Intech Investment Management LLC bought a new position in TechTarget in the third quarter valued at approximately $257,000. Quest Partners LLC acquired a new stake in TechTarget during the 3rd quarter worth $272,000. Finally, SG Americas Securities LLC acquired a new stake in TechTarget during the 3rd quarter worth $307,000. 93.52% of the stock is owned by institutional investors and hedge funds.

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.