TechTarget (NASDAQ:TTGT) Given New $12.00 Price Target at Lake Street Capital

TechTarget (NASDAQ:TTGT) had its price objective reduced by Lake Street Capital from $24.00 to $12.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Lake Street Capital’s price target points to a potential upside of 39.86% from the stock’s current price.

A number of other analysts also recently weighed in on TTGT. Craig Hallum decreased their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 target price on shares of TechTarget in a research note on Tuesday, January 21st. StockNews.com initiated coverage on TechTarget in a research note on Monday, February 10th. They issued a “hold” rating for the company. Needham & Company LLC cut their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, Raymond James lowered TechTarget from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.29.

TechTarget Stock Up 6.1 %

Shares of TTGT stock traded up $0.49 on Wednesday, hitting $8.58. The stock had a trading volume of 436,425 shares, compared to its average volume of 174,694. The stock’s 50 day moving average is $13.39 and its 200-day moving average is $20.28. The firm has a market capitalization of $250.84 million, a price-to-earnings ratio of -20.43, a P/E/G ratio of 113.92 and a beta of 1.03. TechTarget has a 52-week low of $7.66 and a 52-week high of $35.11. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49.

Hedge Funds Weigh In On TechTarget

Institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of TechTarget during the 1st quarter valued at about $3,921,000. Royal Bank of Canada lifted its stake in TechTarget by 30.3% in the fourth quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider’s stock valued at $19,380,000 after acquiring an additional 227,459 shares during the last quarter. Advisory Research Inc. bought a new stake in TechTarget in the fourth quarter worth approximately $2,364,000. Impax Asset Management Group plc increased its stake in shares of TechTarget by 21.3% during the 4th quarter. Impax Asset Management Group plc now owns 426,387 shares of the information services provider’s stock worth $8,451,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Norges Bank bought a new stake in TechTarget in the fourth quarter worth $1,364,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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.