TechTarget (NASDAQ:TTGT) Shares Gap Up to $57.57

TechTarget, Inc. (NASDAQ:TTGT – Get Rating)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $57.57, but opened at $64.00. TechTarget shares last traded at $62.49, with a volume of 1,542 shares.

Several analysts have weighed in on TTGT shares. TheStreet cut shares of TechTarget from a “b” rating to a “c” rating in a research note on Thursday, February 10th. StockNews.com started coverage on shares of TechTarget in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Raymond James dropped their price objective on shares of TechTarget from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 11th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of TechTarget from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, February 11th. Finally, Zacks Investment Research cut shares of TechTarget from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $99.57.

The firm’s 50-day moving average price is $74.79 and its 200 day moving average price is $84.79. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -6,083,000.00 and a beta of 1.04. The company has a current ratio of 6.26, a quick ratio of 6.26 and a debt-to-equity ratio of 2.03.

TechTarget (NASDAQ:TTGT – Get Rating) last issued its earnings results on Thursday, February 10th. The information services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $77.00 million during the quarter, compared to analysts’ expectations of $75.39 million. TechTarget had a net margin of 0.36% and a return on equity of 21.79%. The business’s revenue for the quarter was up 67.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 EPS. As a group, equities research analysts anticipate that TechTarget, Inc. will post 1.62 earnings per share for the current fiscal year.

In related news, Director Don Hawk sold 4,819 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $77.28, for a total transaction of $372,412.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.45% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in TTGT. Geneva Capital Management LLC acquired a new position in TechTarget during the 1st quarter worth approximately $39,756,000. abrdn plc grew its holdings in TechTarget by 48.3% during the 4th quarter. abrdn plc now owns 1,428,070 shares of the information services provider’s stock worth $136,610,000 after acquiring an additional 465,417 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in TechTarget by 143.1% during the 4th quarter. Eagle Asset Management Inc. now owns 307,433 shares of the information services provider’s stock worth $29,805,000 after acquiring an additional 180,983 shares during the last quarter. BlackRock Inc. grew its holdings in TechTarget by 4.0% during the 4th quarter. BlackRock Inc. now owns 3,904,005 shares of the information services provider’s stock worth $373,456,000 after acquiring an additional 148,591 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in TechTarget by 399.7% during the 4th quarter. Marshall Wace LLP now owns 177,648 shares of the information services provider’s stock worth $16,993,000 after acquiring an additional 142,094 shares during the last quarter. Institutional investors and hedge funds own 99.78% of the company’s stock.

About TechTarget (NASDAQ:TTGT)

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. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.

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