This measures the percentage of catches a receiver makes versus how many balls were thrown in his direction. In order for a pass to count as a target for a given receiver, it must be obvious to the scorekeepers that the quarterback is throwing to the receiver. This statistic is calculated by dividing the total number of catches made by the total number of targets for a given receiver.
This statistic is used to evaluate the efficiency of receivers. A receiver with a high percentage of their targets caught will be thrown the ball more frequently. Players who frequently drop passes will have a low number and may find themselves sitting on the bench. In some cases, a player will have a high or even perfect percentage because they play so infrequently, or are passed the ball infrequently. These players are valuable to the team because they can be counted on to make the catch.