KeyCorp Issues Pessimistic Forecast for TechTarget (NASDAQ:TTGT) Stock Price

TechTarget (NASDAQ:TTGT) had its price target decreased by KeyCorp from $38.00 to $37.00 in a research report released on Thursday morning,Benzinga reports. KeyCorp currently has an overweight rating on the information services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research note on Wednesday. Raymond James decreased their price target on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Finally, Craig Hallum upped their price target on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Stock Performance

Shares of TTGT traded down $1.08 during midday trading on Thursday, hitting $28.22. The stock had a trading volume of 44,788 shares, compared to its average volume of 128,603. The business has a 50-day simple moving average of $26.48 and a two-hundred day simple moving average of $28.63. The company has a debt-to-equity ratio of 1.65, a quick ratio of 9.35 and a current ratio of 10.49. TechTarget has a fifty-two week low of $22.82 and a fifty-two week high of $41.93.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TTGT. Texas Permanent School Fund Corp grew its holdings in TechTarget by 2.1% in the first quarter. Texas Permanent School Fund Corp now owns 22,630 shares of the information services provider’s stock valued at $749,000 after purchasing an additional 456 shares during the period. Illinois Municipal Retirement Fund acquired a new stake in TechTarget in the 1st quarter valued at about $501,000. Swiss National Bank lifted its stake in TechTarget by 2.2% during the first quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock valued at $1,671,000 after buying an additional 1,100 shares in the last quarter. Sei Investments Co. increased its holdings in shares of TechTarget by 4.6% in the 1st quarter. Sei Investments Co. now owns 32,853 shares of the information services provider’s stock valued at $1,087,000 after purchasing an additional 1,432 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in TechTarget by 37.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock valued at $370,000 after acquiring an additional 2,790 shares during the last quarter. 93.52% of the stock is 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.