TechTarget (NASDAQ:TTGT) PT Lowered to $40.00 at Needham & Company LLC

TechTarget (NASDAQ:TTGT – Free Report) had its price target trimmed by Needham & Company LLC from $55.00 to $40.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

A number of other research analysts have also recently issued reports on the stock. StockNews.com started coverage on shares of TechTarget in a report on Thursday, May 18th. They issued a hold rating for the company. The Goldman Sachs Group increased their target price on shares of TechTarget from $27.00 to $30.00 and gave the company a sell rating in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of TechTarget from $36.00 to $32.00 and set an underweight rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $42.25.

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TechTarget Price Performance

Shares of NASDAQ:TTGT opened at $30.54 on Wednesday. The company has a 50-day simple moving average of $32.75 and a 200-day simple moving average of $35.79. TechTarget has a one year low of $28.25 and a one year high of $72.79. The company has a debt-to-equity ratio of 2.26, a quick ratio of 8.69 and a current ratio of 9.84. The stock has a market capitalization of $849.62 million, a price-to-earnings ratio of 35.93 and a beta of 0.91.

Institutional Trading of TechTarget

Large investors have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its position in TechTarget by 83.9% during the second quarter. Quadrant Capital Group LLC now owns 980 shares of the information services provider’s stock worth $31,000 after acquiring an additional 447 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in TechTarget during the fourth quarter worth approximately $46,000. State of Wyoming boosted its position in TechTarget by 121.2% during the fourth quarter. State of Wyoming now owns 1,208 shares of the information services provider’s stock worth $53,000 after acquiring an additional 662 shares during the last quarter. Advisors Asset Management Inc. raised its stake in TechTarget by 51.6% during the first quarter. Advisors Asset Management Inc. now owns 828 shares of the information services provider’s stock worth $67,000 after purchasing an additional 282 shares during the period. Finally, Point72 Middle East FZE purchased a new position in TechTarget during the fourth quarter worth approximately $73,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

TechTarget Company Profile

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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 provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.

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