TechTarget (NASDAQ:TTGT) Stock Rating Lowered by Raymond James

TechTarget (NASDAQ:TTGT - Get Free Report) was downgraded by stock analysts at Raymond James from an "outperform" rating to a "market perform" rating in a note issued to investors on Tuesday, Marketbeat reports.

Several other research firms have also recently issued reports on TTGT. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price target on shares of TechTarget in a research note on Wednesday, January 15th. Craig Hallum decreased their target price on TechTarget from $40.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Lake Street Capital decreased their target price on TechTarget from $36.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, December 30th. 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, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $18.00 target price on shares of TechTarget in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.14.

TechTarget Stock Performance

Shares of NASDAQ:TTGT traded down $0.83 on Tuesday, hitting $15.86. The company's stock had a trading volume of 116,645 shares, compared to its average volume of 223,455. TechTarget has a 12 month low of $15.69 and a 12 month high of $33.08. The company has a market capitalization of $463.60 million, a price-to-earnings ratio of -37.77, a price-to-earnings-growth ratio of 139.38 and a beta of 1.02. The stock's 50-day moving average is $19.12 and its two-hundred day moving average is $24.58. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49.

TechTarget (NASDAQ:TTGT - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company had revenue of $58.47 million during the quarter, compared to analysts' expectations of $58.14 million. During the same quarter in the prior year, the business posted $0.13 earnings per share. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that TechTarget will post -0.46 EPS for the current year.

Hedge Funds Weigh In On TechTarget

A number of hedge funds and other institutional investors have recently modified their holdings of TTGT. Advisory Research Inc. acquired a new position in shares of TechTarget in the 4th quarter valued at $2,364,000. Harbor Capital Advisors Inc. boosted its position in shares of TechTarget by 152.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider's stock valued at $3,921,000 after purchasing an additional 96,896 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of TechTarget by 19.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider's stock valued at $12,545,000 after purchasing an additional 82,626 shares during the period. Impax Asset Management Group plc boosted its position in shares of TechTarget by 21.3% in the 4th quarter. Impax Asset Management Group plc now owns 426,387 shares of the information services provider's stock valued at $8,451,000 after purchasing an additional 75,000 shares during the period. Finally, Norges Bank acquired a new position in shares of TechTarget in the 4th quarter valued at $1,364,000. Institutional investors and hedge funds 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.