TechTarget (NASDAQ:TTGT) Price Target Lowered to $25.00 at Craig Hallum

TechTarget (NASDAQ:TTGT) had its target price decreased by research analysts at Craig Hallum from $40.00 to $25.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Craig Hallum’s target price would suggest a potential upside of 41.08% from the company’s previous close.

Several other brokerages have also recently commented on TTGT. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of TechTarget in a research report on Wednesday, November 13th. KeyCorp cut their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. StockNews.com assumed coverage on TechTarget in a research report on Thursday, January 9th. They issued a “hold” rating on the stock. Finally, Lake Street Capital lowered their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.00.

TechTarget Stock Performance

Shares of TechTarget stock remained flat at $17.72 on Tuesday. 37,179 shares of the stock were exchanged, compared to its average volume of 186,396. The business has a 50-day simple moving average of $24.74 and a 200 day simple moving average of $26.75. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a twelve month low of $17.21 and a twelve month high of $33.08. The stock has a market cap of $518.04 million, a price-to-earnings ratio of -42.19, a PEG ratio of 12.04 and a beta of 1.04.

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

Institutional Investors Weigh In On TechTarget

Several hedge funds have recently made changes to their positions in the business. BOKF NA acquired a new position in TechTarget in the 2nd quarter valued at about $239,000. Cornercap Investment Counsel Inc. acquired a new position in shares of TechTarget in the third quarter valued at approximately $245,000. Intech Investment Management LLC purchased a new stake in shares of TechTarget during the third quarter worth approximately $257,000. Quest Partners LLC purchased a new position in TechTarget in the 3rd quarter valued at $272,000. Finally, SG Americas Securities LLC purchased a new position in TechTarget in the 3rd quarter valued at $307,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.