KeyCorp Cuts TechTarget (NASDAQ:TTGT) Price Target to $38.00

TechTarget (NASDAQ:TTGT) had its price objective trimmed by KeyCorp from $40.00 to $38.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an overweight rating on the information services provider’s stock.

A number of other brokerages have also recently commented on TTGT. Craig Hallum dropped their target price on shares of TechTarget from $41.00 to $34.00 and set a hold rating on the stock in a report on Friday, May 10th. Raymond James dropped their price objective on shares of TechTarget from $45.00 to $39.00 and set an outperform rating on the stock in a research note on Friday, May 10th. 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 note on Friday, May 10th. Finally, Needham & Company LLC reiterated a buy rating and set a $50.00 target price on shares of TechTarget in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $39.00.

TechTarget Price Performance

TTGT stock opened at $26.03 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 9.35 and a quick ratio of 9.35. TechTarget has a 1 year low of $23.43 and a 1 year high of $41.93. The firm has a 50-day moving average of $30.92 and a 200 day moving average of $30.84. The company has a market cap of $743.13 million, a P/E ratio of -104.12, a PEG ratio of 13.98 and a beta of 1.07.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. TechTarget had a positive return on equity of 5.92% and a negative net margin of 3.84%. The firm had revenue of $58.91 million during the quarter, compared to analyst estimates of $58.08 million. During the same quarter in the prior year, the company earned $0.17 EPS. The business’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts forecast that TechTarget will post 0.63 EPS for the current year.

Hedge Funds Weigh In On TechTarget

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trigran Investments Inc. increased its holdings in shares of TechTarget by 2.1% in the 4th quarter. Trigran Investments Inc. now owns 2,726,635 shares of the information services provider’s stock worth $95,050,000 after purchasing an additional 55,125 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of TechTarget by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock valued at $24,717,000 after buying an additional 8,681 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in TechTarget by 27.0% in the 4th quarter. Eagle Asset Management Inc. now owns 531,470 shares of the information services provider’s stock worth $18,527,000 after buying an additional 112,960 shares in the last quarter. Envestnet Asset Management Inc. raised its position in TechTarget by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock worth $9,974,000 after buying an additional 8,212 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its position in TechTarget by 21.2% in the 2nd quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock worth $7,560,000 after buying an additional 42,374 shares during the last quarter. 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.