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

TechTarget (NASDAQ:TTGT) was downgraded by stock analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, MarketBeat Ratings reports.

A number of other equities research analysts also recently commented on the company. StockNews.com initiated coverage on TechTarget in a research report on Monday. They issued a “hold” rating for the company. Lake Street Capital lowered their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research note on Wednesday, January 15th. KeyCorp decreased their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Finally, Craig Hallum dropped their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.14.

TechTarget Stock Up 0.8 %

TTGT stock opened at $17.18 on Tuesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. The firm has a market capitalization of $502.34 million, a PE ratio of -40.90, a P/E/G ratio of 139.38 and a beta of 1.02. The company’s 50 day simple moving average is $19.27 and its 200-day simple moving average is $24.63. TechTarget has a 12 month low of $16.34 and a 12 month high of $33.08.

TechTarget (NASDAQ:TTGT) last released 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 firm had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. TechTarget’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. Equities analysts expect that TechTarget will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of TechTarget

Several institutional investors have recently made changes to their positions in TTGT. KBC Group NV grew its stake in shares of TechTarget by 79.1% during the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock valued at $43,000 after buying an additional 962 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of TechTarget during the 4th quarter valued at $103,000. MeadowBrook Investment Advisors LLC boosted its position in 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 purchasing an additional 1,780 shares during the period. Quantbot Technologies LP purchased a new stake in TechTarget during the 4th quarter worth $173,000. Finally, Cornercap Investment Counsel Inc. purchased a new stake in TechTarget during the 3rd quarter worth $245,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

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.