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

TechTarget (NASDAQ:TTGT - Get Free Report) had its target price cut by investment analysts at Needham & Company LLC from $40.00 to $25.00 in a research report issued on Monday, MarketBeat.com reports. The firm presently has a "buy" rating on the information services provider's stock. Needham & Company LLC's target price suggests a potential upside of 173.82% from the company's previous close.

A number of other equities analysts have also commented on the stock. Lake Street Capital reduced their price target on shares of TechTarget from $36.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, December 30th. Craig Hallum reduced their target price on TechTarget from $40.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Raymond James cut TechTarget from an "outperform" rating to a "market perform" rating in a report on Tuesday, February 11th. StockNews.com assumed coverage on TechTarget in a research report on Monday, February 10th. They issued a "hold" rating for the company. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $18.00 target price on shares of TechTarget in a report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $28.00.

TechTarget Price Performance

Shares of NASDAQ TTGT traded down $0.24 during midday trading on Monday, reaching $9.13. 155,989 shares of the company traded hands, compared to its average volume of 164,709. TechTarget has a 12 month low of $8.73 and a 12 month high of $35.11. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The stock's 50-day simple moving average is $15.20 and its 200-day simple moving average is $21.39. The firm has a market cap of $266.92 million, a PE ratio of -21.63, a PEG ratio of 113.92 and a beta of 1.05.

Institutional Investors Weigh In On TechTarget

A number of institutional investors and hedge funds have recently made changes to their positions in the company. KBC Group NV increased its position in TechTarget by 79.1% in the fourth quarter. KBC Group NV now owns 2,178 shares of the information services provider's stock worth $43,000 after purchasing an additional 962 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of TechTarget in the 4th quarter valued at about $103,000. MeadowBrook Investment Advisors LLC grew its position in shares of TechTarget by 26.4% during the 4th quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider's stock worth $169,000 after buying an additional 1,780 shares during the period. Quantbot Technologies LP bought a new stake in shares of TechTarget during the fourth quarter worth approximately $173,000. Finally, State of Tennessee Department of Treasury lifted its holdings in TechTarget by 8.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider's stock valued at $239,000 after buying an additional 910 shares during the period. 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.