TechTarget (NASDAQ:TTGT) Price Target Cut to $34.00

TechTarget (NASDAQ:TTGTFree Report) had its target price reduced by Craig Hallum from $41.00 to $34.00 in a research report released on Friday, Benzinga reports. They currently have a hold rating on the information services provider’s stock.

Other analysts have also recently issued reports about the company. Raymond James dropped their price target on TechTarget from $45.00 to $39.00 and set an outperform rating on the stock in a research report on Friday. Needham & Company LLC reiterated a buy rating and issued a $50.00 target price on shares of TechTarget in a research note on Friday. KeyCorp dropped their price objective on shares of TechTarget from $58.00 to $40.00 and set an overweight rating on the stock in a report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of TechTarget from $40.00 to $33.00 and set a hold rating for the company in a research report on Friday. Finally, TheStreet downgraded TechTarget from a c rating to a d+ rating in a research report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, TechTarget presently has a consensus rating of Hold and a consensus target price of $37.88.

Check Out Our Latest Stock Analysis on TTGT

TechTarget Trading Down 2.6 %

TechTarget stock opened at $28.44 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 8.60 and a current ratio of 8.60. TechTarget has a 1 year low of $23.43 and a 1 year high of $41.93. The firm’s 50-day moving average is $29.85 and its 200-day moving average is $31.23. The company has a market cap of $811.96 million, a P/E ratio of -113.76, a PEG ratio of 8.70 and a beta of 0.99.

Insider Activity

In other news, COO Steven Niemiec sold 13,608 shares of TechTarget stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $438,177.60. Following the transaction, the chief operating officer now owns 40,755 shares of the company’s stock, valued at approximately $1,312,311. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Rebecca Kitchens sold 13,666 shares of TechTarget stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $440,045.20. Following the transaction, the president now owns 53,920 shares of the company’s stock, valued at approximately $1,736,224. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Steven Niemiec sold 13,608 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total transaction of $438,177.60. Following the sale, the chief operating officer now directly owns 40,755 shares of the company’s stock, valued at $1,312,311. The disclosure for this sale can be found here. Insiders own 10.74% of the company’s stock.

Institutional Investors Weigh In On TechTarget

Several hedge funds have recently made changes to their positions in TTGT. State Board of Administration of Florida Retirement System raised its stake in TechTarget by 37.5% during the 1st 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 purchasing an additional 2,790 shares during the period. Inspire Investing LLC acquired a new stake in TechTarget during the 1st quarter worth about $361,000. Sei Investments Co. grew its stake in TechTarget by 4.6% during the 1st quarter. Sei Investments Co. now owns 32,853 shares of the information services provider’s stock valued at $1,087,000 after acquiring an additional 1,432 shares in the last quarter. Swiss National Bank increased its holdings in shares of TechTarget by 2.2% in the 1st quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock valued at $1,671,000 after purchasing an additional 1,100 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of TechTarget in the first quarter worth approximately $501,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

About TechTarget

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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.

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Analyst Recommendations for TechTarget (NASDAQ:TTGT)

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