Lake Street Capital Cuts TechTarget (NASDAQ:TTGT) Price Target to $24.00

TechTarget (NASDAQ:TTGT) had its price objective cut by Lake Street Capital from $36.00 to $24.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Other analysts have also issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research report on Wednesday, November 13th. KeyCorp cut their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Craig Hallum increased their price objective on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, StockNews.com initiated coverage on TechTarget in a research report on Tuesday, December 24th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, TechTarget currently has a consensus rating of “Moderate Buy” and an average target price of $36.14.

TechTarget Price Performance

TTGT stock opened at $19.82 on Monday. The stock has a 50-day moving average price of $26.41 and a two-hundred day moving average price of $27.45. TechTarget has a 1 year low of $18.26 and a 1 year high of $33.08. The stock has a market cap of $579.44 million, a PE ratio of -47.19, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04. 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 (NASDAQ:TTGT) last posted its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.05. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. During the same period in the prior year, the firm earned $0.13 earnings per share. TechTarget’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts forecast that TechTarget will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Hedge funds have recently bought and sold shares of the company. Earnest Partners LLC lifted its holdings in TechTarget by 6.3% during the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after purchasing an additional 29,375 shares during the last quarter. LMR Partners LLP bought a new position in shares of TechTarget in the third quarter valued at about $526,000. Impax Asset Management Group plc lifted its stake in shares of TechTarget by 24.9% during the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock worth $8,591,000 after buying an additional 70,000 shares during the last quarter. Barclays PLC boosted its holdings in shares of TechTarget by 399.1% during the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after buying an additional 36,714 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in TechTarget by 152.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock valued at $3,921,000 after buying an additional 96,896 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.