KeyCorp Issues Pessimistic Forecast for TechTarget (NASDAQ:TTGT) Stock Price

TechTarget (NASDAQ:TTGT) had its price objective lowered by KeyCorp from $38.00 to $37.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the information services provider’s stock.

Other analysts also recently issued reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. Raymond James dropped their target price on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Finally, Craig Hallum raised their price objective on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.17.

TechTarget Stock Down 1.0 %

TechTarget stock opened at $29.01 on Thursday. The firm has a market cap of $848.25 million, a PE ratio of -69.07, a P/E/G ratio of 28.59 and a beta of 1.03. The company has a debt-to-equity ratio of 1.65, a quick ratio of 9.35 and a current ratio of 10.49. The firm’s 50 day moving average price is $26.64 and its two-hundred day moving average price is $28.66. TechTarget has a twelve month low of $22.82 and a twelve month high of $41.93.

TechTarget (NASDAQ:TTGT) last announced its quarterly 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 company had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. TechTarget’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.13 EPS. On average, research analysts predict that TechTarget will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Texas Permanent School Fund Corp lifted its holdings in shares of TechTarget by 2.1% in the first quarter. Texas Permanent School Fund Corp now owns 22,630 shares of the information services provider’s stock valued at $749,000 after purchasing an additional 456 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of TechTarget in the first quarter valued at approximately $501,000. Swiss National Bank raised its position in shares of TechTarget by 2.2% in the first quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock valued at $1,671,000 after buying an additional 1,100 shares in the last quarter. Sei Investments Co. raised its position in TechTarget by 4.6% during the first quarter. Sei Investments Co. now owns 32,853 shares of the information services provider’s stock valued at $1,087,000 after purchasing an additional 1,432 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in TechTarget by 37.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock valued at $370,000 after purchasing an additional 2,790 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.