TechTarget (NASDAQ:TTGT) PT Lowered to $40.00 at Needham & Company LLC

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

A number of other brokerages have also recently issued reports on TTGT. Raymond James lowered their price target on shares of TechTarget from $39.00 to $34.00 and set an outperform rating for the company in a research report on Monday, August 12th. KeyCorp cut their target price on shares of TechTarget from $40.00 to $38.00 and set an overweight rating for the company in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $37.33.

TechTarget Stock Performance

NASDAQ TTGT opened at $24.69 on Monday. TechTarget has a 1 year low of $23.11 and a 1 year high of $41.93. The company has a debt-to-equity ratio of 1.74, a current ratio of 9.35 and a quick ratio of 9.35. The stock has a market capitalization of $705.39 million, a PE ratio of -98.76, a P/E/G ratio of 27.12 and a beta of 1.07. The company’s 50 day simple moving average is $28.30 and its two-hundred day simple moving average is $29.56.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Thursday, August 8th. The information services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of $58.91 million for the quarter, compared to analysts’ expectations of $58.08 million. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. Analysts predict that TechTarget will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Trigran Investments Inc. lifted its position in shares of TechTarget by 2.1% during the fourth quarter. Trigran Investments Inc. now owns 2,726,635 shares of the information services provider’s stock worth $95,050,000 after purchasing an additional 55,125 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in TechTarget by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 209,083 shares of the information services provider’s stock worth $7,289,000 after purchasing an additional 1,768 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in TechTarget in the 1st quarter worth approximately $501,000. Sei Investments Co. lifted its position in shares of TechTarget by 4.6% during the 1st quarter. Sei Investments Co. now owns 32,853 shares of the information services provider’s stock valued at $1,087,000 after buying an additional 1,432 shares in the last quarter. Finally, Rice Hall James & Associates LLC lifted its position in shares of TechTarget by 21.2% during the 2nd quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock valued at $7,560,000 after buying an additional 42,374 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

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.