TechTarget (NASDAQ:TTGT) Stock Rating Lowered by Raymond James

TechTarget (NASDAQ:TTGT) was downgraded by investment analysts at Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday,Finviz reports.

A number of other equities analysts have also recently weighed in on TTGT. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 price target on shares of TechTarget in a research note on Tuesday, January 21st. KeyCorp lowered their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. StockNews.com initiated coverage on shares of TechTarget in a research note on Monday. They issued a “hold” rating on the stock. Craig Hallum lowered their price objective on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Lake Street Capital decreased their price target 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. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.14.

TechTarget Stock Up 1.5 %

Shares of TechTarget stock opened at $17.52 on Tuesday. The company has a market cap of $512.28 million, a P/E ratio of -41.71, a PEG ratio of 139.38 and a beta of 1.02. 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 one year low of $16.59 and a one year high of $33.08. The firm has a fifty day moving average of $19.71 and a two-hundred day moving average of $24.84.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The business had revenue of $58.47 million for the quarter, compared to analysts’ expectations of $58.14 million. During the same period in the prior year, the company posted $0.13 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts forecast that TechTarget will post -0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TTGT. FMR LLC raised its stake in shares of TechTarget by 2.5% during 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 during the period. Geode Capital Management LLC raised its stake in shares of TechTarget by 0.3% during the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after purchasing an additional 1,602 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of TechTarget by 19.2% during the third quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock valued at $12,545,000 after purchasing an additional 82,626 shares during the period. Impax Asset Management Group plc raised its stake in shares of TechTarget by 21.3% during the fourth quarter. Impax Asset Management Group plc now owns 426,387 shares of the information services provider’s stock valued at $8,451,000 after purchasing an additional 75,000 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its stake in shares of TechTarget by 31.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock valued at $6,780,000 after purchasing an additional 66,766 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

About TechTarget

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.