TechTarget (NASDAQ:TTGT) Price Target Cut to $24.00 by Analysts at Lake Street Capital

TechTarget (NASDAQ:TTGT - Get Free Report) had its price target cut by investment analysts at Lake Street Capital from $36.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the information services provider's stock. Lake Street Capital's price target would indicate a potential upside of 19.46% from the company's current price.

TTGT has been the subject of a number of other research reports. Craig Hallum lifted their target price on shares of TechTarget from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price objective on shares of TechTarget in a research note on Wednesday, November 13th. KeyCorp decreased their target price on TechTarget from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. Finally, StockNews.com began coverage on TechTarget in a report on Tuesday, December 24th. They issued a "hold" rating for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.14.

TechTarget Trading Up 3.1 %

Shares of TTGT stock traded up $0.61 during mid-day trading on Monday, reaching $20.09. 258,306 shares of the stock traded hands, compared to its average volume of 333,895. The company has a market cap of $587.33 million, a price-to-earnings ratio of -47.83, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The stock's fifty day simple moving average is $26.79 and its two-hundred day simple moving average is $27.58. TechTarget has a 1-year low of $18.26 and a 1-year high of $33.08.

TechTarget (NASDAQ:TTGT - Get Free Report) last posted its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The business had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The firm's revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.13 EPS. On average, research analysts anticipate that TechTarget will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. BOKF NA bought a new position in shares of TechTarget in the second quarter valued at approximately $239,000. Cornercap Investment Counsel Inc. purchased a new stake in TechTarget in the 3rd quarter valued at $245,000. Intech Investment Management LLC bought a new position in TechTarget during the 3rd quarter valued at $257,000. Quest Partners LLC purchased a new position in TechTarget during the 3rd quarter worth $272,000. Finally, SG Americas Securities LLC bought a new stake in shares of TechTarget in the 3rd quarter worth $307,000. 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.