TechTarget (NASDAQ:TTGT) Rating Lowered to Market Perform at Raymond James

TechTarget (NASDAQ:TTGT) was downgraded by stock analysts at Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday,Finviz reports.

A number of other equities research analysts have also recently weighed in on TTGT. StockNews.com began coverage on shares of TechTarget in a research note on Monday. They set a “hold” rating on the stock. KeyCorp cut their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research note on Wednesday, January 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 price target on shares of TechTarget in a research report on Tuesday, January 21st. Finally, Craig Hallum dropped their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, TechTarget presently has a consensus rating of “Moderate Buy” and an average price target of $30.14.

TechTarget Stock Performance

TTGT stock opened at $17.52 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The stock has a market capitalization of $512.28 million, a price-to-earnings ratio of -41.71, a PEG ratio of 139.38 and a beta of 1.02. TechTarget has a 1 year low of $16.59 and a 1 year high of $33.08. The stock’s fifty day moving average is $19.71 and its two-hundred day moving average is $24.84.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The company had revenue of $58.47 million for the quarter, compared to analysts’ expectations of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. On average, research analysts predict that TechTarget will post -0.46 EPS for the current year.

Institutional Investors Weigh In On TechTarget

Several hedge funds have recently made changes to their positions in the company. M&T Bank Corp lifted its holdings in shares of TechTarget by 16.8% in the fourth quarter. M&T Bank Corp now owns 37,999 shares of the information services provider’s stock valued at $753,000 after purchasing an additional 5,476 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of TechTarget by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 226,036 shares of the information services provider’s stock worth $4,480,000 after purchasing an additional 6,074 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in shares of TechTarget by 21.3% during the fourth quarter. Impax Asset Management Group plc now owns 426,387 shares of the information services provider’s stock worth $8,451,000 after purchasing an additional 75,000 shares during the period. Acuitas Investments LLC grew its position in TechTarget by 29.5% during the fourth quarter. Acuitas Investments LLC now owns 36,332 shares of the information services provider’s stock valued at $720,000 after purchasing an additional 8,271 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in TechTarget by 5.4% in the 4th quarter. Principal Financial Group Inc. now owns 128,412 shares of the information services provider’s stock valued at $2,545,000 after buying an additional 6,577 shares during the period. 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.