TechTarget (NASDAQ:TTGT) Downgraded to Market Perform Rating by Raymond James

Raymond James lowered shares of TechTarget (NASDAQ:TTGT) from an outperform rating to a market perform rating in a research note released on Tuesday, Marketbeat Ratings reports.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 price target on shares of TechTarget in a research report on Tuesday, January 21st. Craig Hallum reduced their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. 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 report on Thursday, November 14th. StockNews.com started coverage on TechTarget in a research report on Monday. They issued a “hold” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of TechTarget in a report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.14.

TechTarget Stock Performance

Shares of TTGT opened at $17.05 on Tuesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. The firm’s 50 day moving average is $19.43 and its 200-day moving average is $24.74. TechTarget has a 12-month low of $16.34 and a 12-month high of $33.08. The stock has a market capitalization of $498.54 million, a P/E ratio of -40.60, a P/E/G ratio of 139.38 and a beta of 1.02.

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

Institutional Trading of TechTarget

A number of institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its position in TechTarget by 152.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after purchasing an additional 96,896 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in TechTarget by 19.2% in the third quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock worth $12,545,000 after buying an additional 82,626 shares during the last quarter. Impax Asset Management Group plc raised its position in 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 acquiring an additional 75,000 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in TechTarget by 31.7% in 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 acquiring an additional 66,766 shares during the last quarter. Finally, FMR LLC grew its position in TechTarget by 2.5% in the third quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after acquiring an additional 60,191 shares in the last quarter. Institutional investors and hedge funds 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.