Craig Hallum Has Lowered Expectations for TechTarget (NASDAQ:TTGT) Stock Price

TechTarget (NASDAQ:TTGT) had its target price reduced by analysts at Craig Hallum from $40.00 to $25.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Craig Hallum’s price objective points to a potential upside of 43.35% from the company’s previous close.

Several other research analysts also recently weighed in on TTGT. Lake Street Capital lowered their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, December 30th. KeyCorp lowered their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of TechTarget in a research note on Wednesday, November 13th. Finally, StockNews.com began coverage on TechTarget in a research note on Thursday, January 9th. 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’s stock. Based on data from MarketBeat.com, TechTarget presently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

TechTarget Price Performance

Shares of NASDAQ TTGT opened at $17.44 on Tuesday. The firm has a market capitalization of $509.86 million, a P/E ratio of -41.52, a P/E/G ratio of 12.04 and a beta of 1.04. The firm’s 50-day moving average price is $24.28 and its 200-day moving average price is $26.59. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a 1-year low of $17.21 and a 1-year high of $33.08.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. During the same period in the prior year, the business earned $0.13 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts anticipate that TechTarget will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Hedge funds have recently modified their holdings of the company. BOKF NA bought a new position in shares of TechTarget in the second quarter valued at approximately $239,000. Cornercap Investment Counsel Inc. bought a new position in TechTarget in the 3rd quarter valued at $245,000. Intech Investment Management LLC bought a new position in TechTarget in the 3rd quarter valued at $257,000. Quest Partners LLC purchased a new stake in shares of TechTarget during the 3rd quarter valued at $272,000. Finally, SG Americas Securities LLC bought a new stake in shares of TechTarget during the 3rd quarter worth $307,000. 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.