TechTarget (NASDAQ:TTGT) Price Target Cut to $24.00 by Analysts at Lake Street Capital

TechTarget (NASDAQ:TTGT) had its price target cut by Lake Street Capital from $36.00 to $24.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

A number of other equities analysts have also weighed in on TTGT. Craig Hallum upped their target price on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KeyCorp decreased their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of TechTarget in a research note on Wednesday, November 13th. Finally, StockNews.com assumed coverage on shares of TechTarget in a research report on Tuesday, December 24th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.14.

TechTarget Stock Up 3.1 %

TTGT stock opened at $20.09 on Monday. TechTarget has a twelve month low of $18.26 and a twelve month high of $33.08. The firm has a market capitalization of $587.33 million, a PE ratio of -47.83, a PEG ratio of 12.04 and a beta of 1.04. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The stock has a 50-day simple moving average of $26.79 and a two-hundred day simple moving average of $27.58.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. TechTarget’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 EPS. On average, equities analysts predict that TechTarget will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its position in TechTarget by 2.5% in the third quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock valued at $60,042,000 after purchasing an additional 60,191 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in TechTarget by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock valued at $24,717,000 after buying an additional 8,681 shares during the period. Geode Capital Management LLC grew its holdings in TechTarget by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock worth $14,955,000 after acquiring an additional 1,602 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of TechTarget by 19.2% in the third quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock valued at $12,545,000 after acquiring an additional 82,626 shares during the period. Finally, Earnest Partners LLC raised its stake in shares of TechTarget by 6.3% during the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after acquiring an additional 29,375 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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.