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

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

TTGT has been the subject of several other reports. Craig Hallum decreased their target price on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Raymond James downgraded shares of TechTarget from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 target price on shares of TechTarget in a research report on Tuesday, January 21st. Lake Street Capital reduced their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 30th. Finally, StockNews.com initiated coverage on TechTarget in a report on Monday, February 10th. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, TechTarget presently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

TechTarget Stock Down 5.3 %

Shares of TTGT stock opened at $14.30 on Monday. TechTarget has a twelve month low of $13.04 and a twelve month high of $35.11. The stock has a market cap of $418.06 million, a P/E ratio of -34.05, a P/E/G ratio of 113.92 and a beta of 1.05. The stock has a 50 day moving average of $15.63 and a 200 day moving average of $21.68. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65.

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 raised its stake in TechTarget by 2.5% in the 3rd 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 last quarter. Royal Bank of Canada grew its holdings in shares of TechTarget by 30.3% during the fourth quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider’s stock worth $19,380,000 after buying an additional 227,459 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of TechTarget by 1.5% in the fourth 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 last quarter. Geode Capital Management LLC lifted 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 buying an additional 21,191 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of TechTarget by 13.3% in 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 buying an additional 68,364 shares in the last quarter. Hedge funds and other institutional investors 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.