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

TechTarget (NASDAQ:TTGT) had its target price lowered by investment analysts at Craig Hallum from $40.00 to $25.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Craig Hallum’s target price suggests a potential upside of 41.08% from the company’s previous close.

A number of other research firms have also weighed in on TTGT. StockNews.com started coverage on shares of TechTarget in a research note on Thursday, January 9th. They issued a “hold” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research note on Wednesday, November 13th. KeyCorp reduced their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, Lake Street Capital dropped their target price on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

TechTarget Stock Performance

Shares of NASDAQ TTGT remained flat at $17.72 during mid-day trading on Tuesday. 37,179 shares of the stock were exchanged, compared to its average volume of 186,396. The firm has a market cap of $518.04 million, a PE ratio of -42.19, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04. TechTarget has a 12-month low of $17.21 and a 12-month high of $33.08. The stock’s 50 day moving average price is $24.74 and its 200-day moving average price is $26.75. 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 (NASDAQ:TTGT) last issued its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The business had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. During the same period in the prior year, the firm earned $0.13 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that TechTarget will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On TechTarget

Several hedge funds and other institutional investors have recently made changes to their positions in TTGT. Texas Permanent School Fund Corp raised its holdings in shares of TechTarget by 10.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock worth $776,000 after acquiring an additional 2,254 shares during the period. American Century Companies Inc. raised its stake in TechTarget by 14.4% during the second quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider’s stock worth $1,078,000 after purchasing an additional 4,352 shares during the period. BOKF NA acquired a new position in TechTarget in the 2nd quarter valued at about $239,000. Envestnet Asset Management Inc. increased its holdings in shares of TechTarget by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock worth $9,974,000 after buying an additional 8,212 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of TechTarget by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock valued at $24,717,000 after buying an additional 8,681 shares during the period. 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.