TechTarget (NASDAQ:TTGT) Given New $40.00 Price Target at Craig Hallum

TechTarget (NASDAQ:TTGT) had its price target boosted by Craig Hallum from $36.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Craig Hallum’s price objective suggests a potential upside of 28.12% from the stock’s current price.

A number of other research firms have also commented on TTGT. Raymond James reduced their price target on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. KeyCorp cut their price objective on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Finally, Needham & Company LLC decreased their target price on TechTarget from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.33.

TechTarget Price Performance

TechTarget stock traded down $0.38 during mid-day trading on Wednesday, hitting $31.22. 35,420 shares of the company were exchanged, compared to its average volume of 128,355. The company has a market capitalization of $912.87 million, a PE ratio of -75.45, a price-to-earnings-growth ratio of 31.15 and a beta of 1.03. The business has a fifty day moving average of $26.24 and a 200 day moving average of $28.58. TechTarget has a 1-year low of $22.82 and a 1-year high of $41.93. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74.

Institutional Investors Weigh In On TechTarget

Several institutional investors have recently modified their holdings of TTGT. BOKF NA bought a new position in TechTarget in the second quarter valued at approximately $239,000. Cornercap Investment Counsel Inc. acquired a new position in shares of TechTarget in the 3rd quarter valued at $245,000. Intech Investment Management LLC bought a new position in shares of TechTarget in the 3rd quarter worth $257,000. Quest Partners LLC acquired a new stake in shares of TechTarget during the third quarter worth $272,000. Finally, SG Americas Securities LLC bought a new stake in TechTarget in the third quarter valued at about $307,000. Institutional investors and hedge funds 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.