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

TechTarget (NASDAQ:TTGT) had its price target dropped by stock analysts at KeyCorp from $38.00 to $37.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. KeyCorp’s price objective would suggest a potential upside of 14.52% from the company’s previous close.

TTGT has been the topic of several other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of TechTarget in a report on Wednesday. Craig Hallum upped their price objective on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Raymond James dropped their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Price Performance

NASDAQ TTGT opened at $32.31 on Thursday. The company has a market cap of $944.74 million, a PE ratio of -76.93, a price-to-earnings-growth ratio of 31.15 and a beta of 1.03. TechTarget has a 52 week low of $22.82 and a 52 week high of $41.93. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74. The firm’s 50-day simple moving average is $26.48 and its two-hundred day simple moving average is $28.63.

Institutional Investors Weigh In On TechTarget

Institutional investors and hedge funds have recently bought and sold shares of the stock. Earnest Partners LLC raised its stake in TechTarget by 6.3% in the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after purchasing an additional 29,375 shares in the last quarter. Impax Asset Management Group plc raised its stake in TechTarget by 24.9% in the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 70,000 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in TechTarget by 152.7% in the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock valued at $3,921,000 after purchasing an additional 96,896 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in TechTarget in the first quarter valued at approximately $501,000. Finally, Sei Investments Co. raised its stake in TechTarget by 4.6% in 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. 93.52% of the stock is 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.