Needham & Company LLC Cuts TechTarget (NASDAQ:TTGT) Price Target to $25.00

TechTarget (NASDAQ:TTGT) had its price objective lowered by Needham & Company LLC from $40.00 to $25.00 in a research report sent to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other equities analysts have also weighed in on TTGT. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued 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 report on Monday, February 10th. They set a “hold” rating for the company. 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. Craig Hallum reduced their price target on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Raymond James downgraded shares of TechTarget from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, TechTarget has an average rating of “Moderate Buy” and an average price target of $28.00.

TechTarget Stock Performance

Shares of TTGT opened at $12.50 on Monday. The firm’s 50 day moving average price is $15.37 and its two-hundred day moving average price is $21.47. 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 has a twelve month low of $11.71 and a twelve month high of $35.11. The firm has a market cap of $365.44 million, a P/E ratio of -29.76, a PEG ratio of 113.92 and a beta of 1.05.

Hedge Funds Weigh In On TechTarget

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in 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 acquiring an additional 60,191 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of 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 purchasing an additional 227,459 shares during the period. Dimensional Fund Advisors LP lifted its stake 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 purchasing an additional 11,646 shares during the last quarter. Geode Capital Management LLC lifted its stake in TechTarget by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 632,704 shares of the information services provider’s stock valued at $12,543,000 after purchasing an additional 21,191 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in 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 purchasing an additional 68,364 shares during the period. 93.52% of the stock is owned by 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.