TechTarget (NASDAQ:TTGT) Price Target Cut to $10.00 by Analysts at Lake Street Capital

TechTarget (NASDAQ:TTGT) had its price objective lowered by Lake Street Capital from $12.00 to $10.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut TechTarget from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $18.00 to $8.00 in a report on Tuesday, June 10th. Wall Street Zen raised TechTarget from a “sell” rating to a “hold” rating in a report on Saturday, April 26th. Needham & Company LLC dropped their price target on TechTarget from $25.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, June 5th. Finally, Craig Hallum assumed coverage on TechTarget in a report on Monday, June 9th. They set a “buy” rating and a $12.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.33.

TechTarget Price Performance

TTGT stock opened at $6.80 on Tuesday. The business has a fifty day moving average price of $7.77 and a 200 day moving average price of $13.75. TechTarget has a fifty-two week low of $6.51 and a fifty-two week high of $35.11. The stock has a market capitalization of $198.83 million, a price-to-earnings ratio of -16.19 and a beta of 1.05.

Institutional Investors Weigh In On TechTarget

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Trigran Investments Inc. increased its stake in shares of TechTarget by 20.4% in the 1st quarter. Trigran Investments Inc. now owns 4,526,836 shares of the information services provider’s stock valued at $67,042,000 after buying an additional 767,327 shares during the period. Vanguard Group Inc. boosted its position in shares of TechTarget by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,923,408 shares of the information services provider’s stock worth $28,486,000 after purchasing an additional 18,603 shares during the last quarter. Royal Bank of Canada boosted its position in shares of TechTarget by 30.3% in the 4th quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider’s stock worth $19,380,000 after purchasing an additional 227,459 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of TechTarget by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 806,078 shares of the information services provider’s stock worth $15,977,000 after purchasing an additional 11,646 shares during the last quarter. Finally, Earnest Partners LLC boosted its position in shares of TechTarget by 41.3% in the 1st quarter. Earnest Partners LLC now owns 686,440 shares of the information services provider’s stock worth $10,166,000 after purchasing an additional 200,495 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

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.