TechTarget (NASDAQ:TTGT) Given New $25.00 Price Target at Needham & Company LLC

TechTarget (NASDAQ:TTGT) had its price objective decreased by investment analysts at Needham & Company LLC from $40.00 to $25.00 in a report released on Monday, MarketBeat.com reports. The firm currently has a “buy” rating on the information services provider’s stock. Needham & Company LLC’s price target suggests a potential upside of 74.83% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Lake Street Capital reduced their target price on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, December 30th. Raymond James cut TechTarget from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.00 target price on shares of TechTarget in a research note on Tuesday, January 21st. StockNews.com started coverage on TechTarget in a research note on Monday, February 10th. They issued a “hold” rating on the stock. Finally, Craig Hallum cut their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

TechTarget Stock Down 5.3 %

Shares of TTGT opened at $14.30 on Monday. The stock has a fifty day simple moving average of $15.63 and a two-hundred day simple moving average of $21.68. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $418.06 million, a PE ratio of -34.05, a price-to-earnings-growth ratio of 113.92 and a beta of 1.05. TechTarget has a 52-week low of $13.04 and a 52-week high of $35.11.

Institutional Trading of TechTarget

Hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in shares of TechTarget by 2.5% in the third quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock valued at $60,042,000 after purchasing an additional 60,191 shares in the last quarter. Royal Bank of Canada boosted its position in TechTarget by 30.3% in the 4th quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider’s stock valued at $19,380,000 after buying an additional 227,459 shares during the period. Dimensional Fund Advisors LP boosted its position in TechTarget by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 806,078 shares of the information services provider’s stock valued at $15,977,000 after buying an additional 11,646 shares during the period. Geode Capital Management LLC grew its stake in shares of TechTarget by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 632,704 shares of the information services provider’s stock worth $12,543,000 after acquiring an additional 21,191 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of TechTarget by 13.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 581,430 shares of the information services provider’s stock worth $11,524,000 after acquiring an additional 68,364 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.