TechTarget (NASDAQ:TTGT) Stock Rating Lowered by JPMorgan Chase & Co.

TechTarget (NASDAQ:TTGT) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Tuesday, MarketBeat.com reports. They presently have a $8.00 target price on the information services provider’s stock, down from their prior target price of $18.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 4.30% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC cut their target price on TechTarget from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, June 5th. Lake Street Capital cut their price objective on shares of TechTarget from $24.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Craig Hallum began coverage on shares of TechTarget in a research note on Monday. They issued a “buy” rating and a $12.00 target price on the stock. Wall Street Zen upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a report on Saturday, April 26th. Finally, Raymond James cut shares of TechTarget from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TechTarget has an average rating of “Hold” and a consensus target price of $19.67.

TechTarget Trading Up 7.0%

Shares of TTGT opened at $7.67 on Tuesday. The stock has a market capitalization of $224.23 million, a PE ratio of -18.26, a P/E/G ratio of 113.92 and a beta of 1.05. The company’s fifty day moving average is $8.03 and its 200 day moving average is $14.72. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. TechTarget has a fifty-two week low of $6.80 and a fifty-two week high of $35.11.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TTGT. Trigran Investments Inc. boosted its position in TechTarget by 20.4% in the 1st quarter. Trigran Investments Inc. now owns 4,526,836 shares of the information services provider’s stock valued at $67,042,000 after buying an additional 767,327 shares during the period. Vanguard Group Inc. raised its stake in shares of TechTarget by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,923,408 shares of the information services provider’s stock valued at $28,486,000 after acquiring an additional 18,603 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of 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 purchasing an additional 227,459 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of TechTarget by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 806,078 shares of the information services provider’s stock valued at $15,977,000 after purchasing an additional 11,646 shares during the period. Finally, Earnest Partners LLC grew its stake in TechTarget by 41.3% in the first quarter. Earnest Partners LLC now owns 686,440 shares of the information services provider’s stock worth $10,166,000 after purchasing an additional 200,495 shares in the last quarter. Hedge funds and other institutional investors 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.