TechTarget (NASDAQ:TTGT) Price Target Raised to $40.00 at Craig Hallum

TechTarget (NASDAQ:TTGT) had its price objective lifted by Craig Hallum from $36.00 to $40.00 in a research note released on Wednesday morning,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 reports. Raymond James lowered their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Needham & Company LLC reduced their price objective on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, KeyCorp dropped their target price on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, TechTarget currently has an average rating of “Moderate Buy” and a consensus target price of $38.33.

TechTarget Stock Performance

TTGT stock opened at $32.31 on Wednesday. The firm has a market cap of $944.74 million, a PE ratio of -76.93, a price-to-earnings-growth ratio of 31.15 and a beta of 1.03. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 1.74. The stock has a 50-day moving average price of $26.48 and a 200-day moving average price of $28.63. TechTarget has a 1-year low of $22.82 and a 1-year high of $41.93.

Hedge Funds Weigh In On TechTarget

A number of institutional investors have recently modified their holdings of TTGT. BOKF NA acquired a new stake in TechTarget in the 2nd quarter valued at $239,000. The Manufacturers Life Insurance Company lifted its stake in shares of TechTarget by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after buying an additional 430 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of TechTarget during the third quarter valued at about $245,000. State Board of Administration of Florida Retirement System increased its position in shares of TechTarget by 37.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock worth $370,000 after acquiring an additional 2,790 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of TechTarget in the 3rd quarter worth about $257,000. 93.52% of the stock is owned by institutional investors and hedge funds.

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.