TechTarget (NASDAQ:TTGT) PT Lowered to $38.00

TechTarget (NASDAQ:TTGT) had its price objective trimmed by KeyCorp from $40.00 to $38.00 in a report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the information services provider’s stock.

TTGT has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of TechTarget from $40.00 to $33.00 and set a hold rating for the company in a report on Friday, May 10th. Needham & Company LLC restated a buy rating and issued a $50.00 price objective on shares of TechTarget in a report on Friday, August 9th. Raymond James cut their target price on TechTarget from $45.00 to $39.00 and set an outperform rating on the stock in a report on Friday, May 10th. Finally, Craig Hallum decreased their price target on TechTarget from $41.00 to $34.00 and set a hold rating for the company in a research note on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, TechTarget currently has an average rating of Moderate Buy and a consensus price target of $39.00.

TechTarget Price Performance

TTGT stock opened at $26.20 on Monday. The company’s 50-day moving average price is $30.83 and its two-hundred day moving average price is $30.80. TechTarget has a 12 month low of $23.43 and a 12 month high of $41.93. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74. The firm has a market cap of $747.98 million, a P/E ratio of -104.80, a P/E/G ratio of 13.98 and a beta of 1.07.

TechTarget (NASDAQ:TTGT) last released its earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. TechTarget had a positive return on equity of 5.92% and a negative net margin of 3.84%. The firm had revenue of $58.91 million during the quarter, compared to analysts’ expectations of $58.08 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts anticipate that TechTarget will post 0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Trigran Investments Inc. grew its position in TechTarget by 2.1% in the 4th quarter. Trigran Investments Inc. now owns 2,726,635 shares of the information services provider’s stock valued at $95,050,000 after purchasing an additional 55,125 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of TechTarget by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 209,083 shares of the information services provider’s stock worth $7,289,000 after acquiring an additional 1,768 shares during the last quarter. Federated Hermes Inc. boosted its stake in TechTarget by 249.2% during the 4th quarter. Federated Hermes Inc. now owns 219,739 shares of the information services provider’s stock valued at $7,660,000 after purchasing an additional 156,814 shares during the last quarter. Illinois Municipal Retirement Fund bought a new stake in TechTarget during the 1st quarter worth approximately $501,000. Finally, Sei Investments Co. raised its stake in shares of TechTarget by 4.6% in the first quarter. Sei Investments Co. now owns 32,853 shares of the information services provider’s stock worth $1,087,000 after purchasing an additional 1,432 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

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.