TechTarget Coverage Initiated by StockNews.com Analysts

On December 25, 2024, analysts at StockNews.com began coverage of TechTarget, Inc. (NASDAQ: TTGT). In their report, they assigned a hold rating to the company's stock, signaling a neutral perspective on its near-term performance.

Several other analysts have also shared their views on TechTarget in recent weeks. For instance, KeyCorp revised their price target for TechTarget shares from $38.00 to $37.00 while maintaining an "overweight" rating on November 14th. Meanwhile, Needham & Company LLC reaffirmed a "buy" rating and set a target price of $40.00 on November 13th. On the same day, Craig Hallum increased their target from $36.00 to $40.00 and rated the stock as a "buy." Collectively, the ratings reveal that two analysts have given a hold rating, while five analysts have expressed a buy rating. According to MarketBeat.com, TechTarget holds a consensus rating of "Moderate Buy" with an average price target of $38.17.

Recent Stock Performance

As of Tuesday, TechTarget shares (NASDAQ: TTGT) opened at $18.46, reflecting a decrease of 4.2%. The company boasts a market capitalization of approximately $539.68 million. With a P/E ratio of -43.95 and a P/E/G ratio of 12.04, TechTarget's financial metrics suggest an ongoing investment interest, albeit with some caution. The stock has shown a 12-month low of $18.30 and a peak of $33.08. Moving averages indicate a fifty-day average of $27.71 and a 200-day average of $28.00, providing key technical indicators for investors. Additionally, the company maintains a strong liquidity position with a quick and current ratio both standing at 10.49, although it carries a debt-to-equity ratio of 1.65.

Quarterly Earnings Review

In its latest financial report released on November 12th, TechTarget reported earnings per share (EPS) of $0.42 for the quarter, surpassing analysts’ expectations by $0.05. The company generated revenue of $58.47 million, slightly exceeding forecasts of $58.14 million. Despite a return on equity of 5.44%, the company reported a negative net margin of 5.34%. Year-over-year revenue growth stood at 2.4%, illustrating gradual improvement compared to the same quarter last year when the EPS was just $0.13. Analysts anticipate that for the current year, TechTarget could post EPS of 0.55.

Institutional Investment Activity

Recent reports indicate that several institutional investors have adjusted their stakes in TechTarget. For example, Earnest Partners LLC increased its holdings by 6.3% in the second quarter, owning 495,701 shares valued at approximately $15.45 million after purchasing an additional 29,375 shares. In the third quarter, LMR Partners LLP acquired a new stake valued at about $526,000, while Impax Asset Management Group plc increased its stake by 24.9%, now holding 351,387 shares worth $8.59 million after buying an additional 70,000 shares. Harbor Capital Advisors Inc. raised its holdings significantly by 152.7% in the same quarter. The majority, approximately 93.52%, of TechTarget's stock is currently owned by institutional investors and hedge funds, which establishes a strong backing for the company’s market performance.

Company Overview

TechTarget, Inc., along with its subsidiaries, specializes in providing marketing and sales services tailored for business-to-business technology firms both in North America and globally. Their services aim to connect technology vendors with corporate IT decision-makers who are actively researching IT purchasing options. TechTarget’s comprehensive marketing programs integrate demand generation, brand advertising, and content curation to effectively meet the needs of its clients.

TechTarget, Stocks, Analysis