Needham & Company LLC Reiterates Buy Rating for TechTarget (NASDAQ:TTGT)

TechTarget (NASDAQ:TTGT)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $40.00 price objective on the information services provider’s stock. Needham & Company LLC’s price target would indicate a potential upside of 36.52% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Raymond James cut their price target on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Craig Hallum raised their target price on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, KeyCorp lowered their price target on TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, TechTarget has a consensus rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Stock Down 9.3 %

Shares of TTGT stock opened at $29.30 on Wednesday. The stock has a market cap of $856.73 million, a P/E ratio of -69.76, a price-to-earnings-growth ratio of 31.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.74, a current ratio of 9.35 and a quick ratio of 9.35. The stock has a fifty day moving average price of $26.48 and a 200 day moving average price of $28.63. TechTarget has a one year low of $22.82 and a one year high of $41.93.

Hedge Funds Weigh In On TechTarget

Several institutional investors have recently bought and sold shares of TTGT. BOKF NA acquired a new stake in shares of TechTarget in the second quarter valued at $239,000. The Manufacturers Life Insurance Company increased its position in TechTarget by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after acquiring an additional 430 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of TechTarget in the third quarter worth about $245,000. State Board of Administration of Florida Retirement System lifted its position in shares of TechTarget by 37.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock worth $370,000 after purchasing an additional 2,790 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of TechTarget during the third quarter valued at approximately $257,000. Institutional investors own 93.52% of the company’s stock.

TechTarget Company Profile

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.