TechTarget (NASDAQ:TTGT) Stock Passes Above 200 Day Moving Average After Earnings Miss

TechTarget, Inc. (NASDAQ:TTGT)’s stock price passed above its 200-day moving average during trading on Thursday after the company announced better than expected quarterly earnings. The stock has a 200-day moving average of $4.92 and traded as high as $6.70. TechTarget shares last traded at $6.47, with a volume of 1,028,512 shares.

The information services provider reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.59). TechTarget had a negative return on equity of 14.62% and a negative net margin of 207.13%.The business had revenue of $106.05 million during the quarter, compared to the consensus estimate of $104.93 million.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TTGT shares. Needham & Company LLC reissued a “buy” rating on shares of TechTarget in a research report on Thursday, March 12th. Wall Street Zen raised shares of TechTarget from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of TechTarget in a research report on Monday, April 20th. Finally, Lake Street Capital lowered their price objective on shares of TechTarget from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of TechTarget by 103.5% during the third quarter. BNP Paribas Financial Markets now owns 5,658 shares of the information services provider’s stock worth $33,000 after buying an additional 2,877 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of TechTarget during the fourth quarter worth about $55,000. CWM LLC grew its holdings in shares of TechTarget by 454.8% during the fourth quarter. CWM LLC now owns 10,664 shares of the information services provider’s stock worth $58,000 after buying an additional 8,742 shares in the last quarter. Graham Capital Management L.P. bought a new position in shares of TechTarget during the fourth quarter worth about $58,000. Finally, Quotient Wealth Partners LLC bought a new position in TechTarget in the fourth quarter valued at $59,000. 93.52% of the stock is currently owned by institutional investors.

TechTarget Trading Up 8.7%

The firm has a market cap of $467.78 million, a P/E ratio of -0.46 and a beta of 1.20. The business’s 50-day moving average is $4.31 and its two-hundred day moving average is $4.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 1.23.

TechTarget Company Profile

TechTarget, Inc operates as a specialized media and information services company focused on the technology sector. Through a network of over 140 online channels and dedicated sites covering a wide range of IT topics—from cloud computing and cybersecurity to data analytics and storage—the company delivers targeted content, research, and insights to enterprise technology buyers. TechTarget’s offerings enable technology vendors and service providers to engage with qualified audiences at every stage of the purchasing cycle.

The company’s core products include purchase intent data solutions and lead-generation platforms designed to identify and nurture prospects actively researching technology solutions.