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 note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

TTGT has been the topic of a number of other reports. StockNews.com assumed coverage on TechTarget in a research report on Thursday, January 9th. They issued a “hold” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research report on Wednesday, November 13th. KeyCorp dropped their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, Lake Street Capital lowered their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Two equities research 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, TechTarget currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

TechTarget Stock Performance

TechTarget stock opened at $17.89 on Tuesday. The stock has a 50-day simple moving average of $24.04 and a 200 day simple moving average of $26.53. The stock has a market capitalization of $523.10 million, a price-to-earnings ratio of -42.60, a P/E/G ratio of 9.11 and a beta of 1.04. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a 12-month low of $17.21 and a 12-month high of $33.08.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The company had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. On average, research analysts anticipate that TechTarget will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Institutional investors have recently modified their holdings of the stock. Earnest Partners LLC boosted its stake in TechTarget by 6.3% during the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock worth $15,451,000 after acquiring an additional 29,375 shares during the last quarter. Barclays PLC raised its holdings in TechTarget by 399.1% in the third quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after purchasing an additional 36,714 shares during the period. LMR Partners LLP bought a new position in shares of TechTarget during the third quarter worth $526,000. Impax Asset Management Group plc grew its holdings in shares of TechTarget by 24.9% in the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after buying an additional 70,000 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in shares of TechTarget by 152.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock valued at $3,921,000 after buying an additional 96,896 shares in the last quarter. 93.52% of the stock is currently 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.