Lake Street Capital Has Lowered Expectations for TechTarget (NASDAQ:TTGT) Stock Price

TechTarget (NASDAQ:TTGT) had its target price trimmed by Lake Street Capital from $24.00 to $12.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

A number of other brokerages also recently issued reports on TTGT. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 price target on shares of TechTarget in a research report on Tuesday, January 21st. Needham & Company LLC reduced their price objective on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Raymond James lowered TechTarget from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 11th. StockNews.com began coverage on TechTarget in a research note on Monday, February 10th. They set a “hold” rating for the company. Finally, Craig Hallum cut their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

TechTarget Trading Up 3.8 %

Shares of NASDAQ TTGT opened at $8.40 on Wednesday. The stock has a market capitalization of $245.57 million, a P/E ratio of -20.00, a PEG ratio of 113.92 and a beta of 1.03. TechTarget has a 1-year low of $7.61 and a 1-year high of $35.11. The business’s 50 day moving average is $13.21 and its two-hundred day moving average is $20.20. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TTGT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of TechTarget by 4.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider’s stock worth $295,000 after buying an additional 698 shares during the period. Balyasny Asset Management L.P. lifted its stake in TechTarget by 3.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 22,199 shares of the information services provider’s stock worth $440,000 after acquiring an additional 747 shares during the period. State of Tennessee Department of Treasury grew its holdings in TechTarget by 8.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider’s stock worth $239,000 after acquiring an additional 910 shares in the last quarter. KBC Group NV increased its position in 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 purchasing an additional 962 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of TechTarget by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after purchasing an additional 1,602 shares in the last quarter. 93.52% of the stock is currently 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.