TechTarget (NASDAQ:TTGT) Given New $34.00 Price Target at Raymond James

TechTarget (NASDAQ:TTGT) had its price target trimmed by Raymond James from $39.00 to $34.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an outperform rating on the information services provider’s stock.

Several other equities research analysts have also commented on the stock. Craig Hallum decreased their price objective on shares of TechTarget from $41.00 to $34.00 and set a hold rating for the company in a research note on Friday, May 10th. KeyCorp decreased their price objective on shares of TechTarget from $40.00 to $38.00 and set an overweight rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft decreased their price objective 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 issued a $50.00 price objective on shares of TechTarget in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, TechTarget has an average rating of Moderate Buy and an average price target of $39.00.

TechTarget Trading Up 0.7 %

TTGT opened at $26.20 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 fifty-two week low of $23.43 and a fifty-two week high of $41.93. The firm has a market capitalization of $747.98 million, a PE ratio of -104.80, a P/E/G ratio of 13.98 and a beta of 1.07. The company’s 50-day moving average is $30.83 and its 200 day moving average is $30.80.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. MeadowBrook Investment Advisors LLC bought a new position in TechTarget in the 4th quarter worth approximately $194,000. BOKF NA bought a new position in TechTarget in the 2nd quarter worth approximately $239,000. Aigen Investment Management LP boosted its holdings in TechTarget by 6.6% in the 4th quarter. Aigen Investment Management LP now owns 7,712 shares of the information services provider’s stock worth $269,000 after buying an additional 476 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in TechTarget by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after buying an additional 430 shares during the period. Finally, Riverwater Partners LLC bought a new position in TechTarget in the 2nd quarter worth approximately $350,000. 93.52% of the stock is owned by institutional investors.

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.