TechTarget (NASDAQ:TTGT) Price Target Cut to $12.00 by Analysts at Lake Street Capital

TechTarget (NASDAQ:TTGT - Get Free Report) had its target price reduced by analysts at Lake Street Capital from $24.00 to $12.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the information services provider's stock. Lake Street Capital's target price points to a potential upside of 68.54% from the stock's previous close.

A number of other research analysts have also recently commented on the company. Raymond James cut TechTarget from an "outperform" rating to a "market perform" rating in a research note on Tuesday, February 11th. Craig Hallum dropped 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. Needham & Company LLC 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 Monday, March 31st. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $18.00 target price on shares of TechTarget in a report on Tuesday, January 21st. Finally, StockNews.com initiated coverage on shares of TechTarget in a research note on Monday, February 10th. They issued a "hold" rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $26.29.

TechTarget Trading Down 12.7 %

Shares of TTGT stock traded down $1.04 during mid-day trading on Wednesday, reaching $7.12. The stock had a trading volume of 930,928 shares, compared to its average volume of 182,101. TechTarget has a 52-week low of $7.03 and a 52-week high of $35.11. The firm has a market capitalization of $208.15 million, a PE ratio of -16.95, a price-to-earnings-growth ratio of 113.92 and a beta of 1.03. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The stock's 50-day moving average price is $12.85 and its two-hundred day moving average price is $19.92.

Institutional Trading of TechTarget

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in TechTarget by 30.3% in the 4th quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider's stock worth $19,380,000 after acquiring an additional 227,459 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in TechTarget by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 806,078 shares of the information services provider's stock valued at $15,977,000 after purchasing an additional 11,646 shares during the period. Geode Capital Management LLC lifted its holdings in TechTarget by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 632,704 shares of the information services provider's stock worth $12,543,000 after purchasing an additional 21,191 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of TechTarget by 13.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 581,430 shares of the information services provider's stock valued at $11,524,000 after buying an additional 68,364 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of TechTarget by 0.7% during the fourth quarter. Renaissance Technologies LLC now owns 542,877 shares of the information services provider's stock worth $10,760,000 after acquiring an additional 3,710 shares during the last quarter. 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.