Lake Street Capital Issues Pessimistic Forecast for TechTarget (NASDAQ:TTGT) Stock Price

TechTarget (NASDAQ:TTGT) had its price target reduced by equities research analysts at Lake Street Capital from $36.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Lake Street Capital’s price target would suggest a potential upside of 23.20% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research report on Wednesday, November 13th. StockNews.com initiated coverage on TechTarget in a report on Tuesday, December 24th. They issued a “hold” rating for the company. KeyCorp cut their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, Craig Hallum upped their target price on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, TechTarget currently has a consensus rating of “Moderate Buy” and an average price target of $36.14.

TechTarget Trading Up 3.1 %

Shares of NASDAQ:TTGT opened at $19.48 on Monday. The firm has a market cap of $569.50 million, a price-to-earnings ratio of -46.38, a PEG ratio of 12.04 and a beta of 1.04. TechTarget has a 12 month low of $18.26 and a 12 month high of $33.08. The company’s fifty day simple moving average is $26.97 and its 200 day simple moving average is $27.66. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65.

TechTarget (NASDAQ:TTGT) last released 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. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The firm had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. During the same quarter last year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, research analysts forecast that TechTarget will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Large investors have recently made changes to their positions in the company. Earnest Partners LLC grew its holdings in TechTarget by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after buying an additional 29,375 shares in the last quarter. LMR Partners LLP bought a new position in TechTarget during the third quarter worth about $526,000. Impax Asset Management Group plc raised its stake in TechTarget by 24.9% in the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 70,000 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings 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 valued at $3,921,000 after purchasing an additional 96,896 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in shares of TechTarget by 19.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock worth $12,545,000 after purchasing an additional 82,626 shares in 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.