TechTarget (NASDAQ:TTGT) Given New $25.00 Price Target at Craig Hallum

TechTarget (NASDAQ:TTGT) had its price target cut by Craig Hallum from $40.00 to $25.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of TechTarget in a report on Wednesday, November 13th. Lake Street Capital reduced their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. StockNews.com started coverage on shares of TechTarget in a research note on Thursday, January 9th. They set a “hold” rating on the stock. Finally, KeyCorp cut their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.00.

TechTarget Stock Up 0.7 %

TTGT opened at $17.84 on Tuesday. The firm’s 50 day simple moving average is $24.53 and its two-hundred day simple moving average is $26.66. The company has a market capitalization of $521.55 million, a PE ratio of -42.48, a PEG ratio of 12.04 and a beta of 1.04. TechTarget has a 1-year low of $17.21 and a 1-year high of $33.08. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company had revenue of $58.47 million for the quarter, compared to analysts’ expectations of $58.14 million. During the same period last year, the firm earned $0.13 EPS. TechTarget’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts forecast that TechTarget will post 0.55 EPS for the current year.

Institutional Trading of TechTarget

Several hedge funds have recently bought and sold shares of the stock. Texas Permanent School Fund Corp increased its holdings in shares of TechTarget by 10.0% in the second quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock worth $776,000 after purchasing an additional 2,254 shares during the last quarter. American Century Companies Inc. grew its holdings in TechTarget by 14.4% during the 2nd quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider’s stock valued at $1,078,000 after buying an additional 4,352 shares in the last quarter. BOKF NA bought a new stake in TechTarget in the 2nd quarter worth approximately $239,000. Envestnet Asset Management Inc. increased its stake in TechTarget by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock worth $9,974,000 after acquiring an additional 8,212 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of TechTarget by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock worth $24,717,000 after acquiring an additional 8,681 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

About TechTarget

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.