TechTarget (NASDAQ:TTGT) Price Target Cut to $40.00

TechTarget (NASDAQ:TTGT) had its price objective lowered by Needham & Company LLC from $50.00 to $40.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

TTGT has been the subject of a number of other research reports. Raymond James decreased 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. KeyCorp lowered their target price on shares of TechTarget from $40.00 to $38.00 and set an overweight rating on the stock in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $37.33.

TechTarget Price Performance

Shares of NASDAQ TTGT opened at $25.50 on Monday. The firm has a market capitalization of $728.54 million, a P/E ratio of -102.00, a P/E/G ratio of 27.12 and a beta of 1.07. The firm’s 50-day moving average price is $28.17 and its 200-day moving average price is $29.54. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 1.74. TechTarget has a 1-year low of $23.11 and a 1-year high of $41.93.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $58.91 million for the quarter, compared to the consensus estimate of $58.08 million. During the same period in the prior year, the business earned $0.17 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts anticipate that TechTarget will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Several hedge funds have recently modified their holdings of TTGT. BOKF NA bought a new position in shares of TechTarget in the second quarter valued at approximately $239,000. Aigen Investment Management LP grew its stake in TechTarget by 6.6% in the 4th quarter. Aigen Investment Management LP now owns 7,712 shares of the information services provider’s stock valued at $269,000 after purchasing an additional 476 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of TechTarget by 4.5% during 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 purchasing an additional 430 shares during the last quarter. Riverwater Partners LLC bought a new stake in shares of TechTarget during the 2nd quarter worth $350,000. Finally, Inspire Investing LLC boosted its holdings in shares of TechTarget by 4.3% in the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock worth $355,000 after buying an additional 469 shares during the last quarter. 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.