Craig Hallum Raises TechTarget (NASDAQ:TTGT) Price Target to $40.00

TechTarget (NASDAQ:TTGT) had its target price lifted by Craig Hallum from $36.00 to $40.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Craig Hallum’s price target would suggest a potential upside of 36.52% from the stock’s previous close.

A number of other research analysts have also commented on the company. Needham & Company LLC lowered their price objective on TechTarget from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Raymond James dropped their price target on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, KeyCorp decreased their price objective on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Trading Down 9.3 %

Shares of NASDAQ:TTGT opened at $29.30 on Wednesday. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $856.73 million, a PE ratio of -69.76, a P/E/G ratio of 31.15 and a beta of 1.03. TechTarget has a 1 year low of $22.82 and a 1 year high of $41.93. The firm has a fifty day moving average price of $26.48 and a 200 day moving average price of $28.63.

Hedge Funds Weigh In On TechTarget

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BOKF NA acquired a new stake in TechTarget in the 2nd quarter worth $239,000. Cornercap Investment Counsel Inc. acquired a new stake in TechTarget during the third quarter worth about $245,000. Intech Investment Management LLC acquired a new position in TechTarget in the 3rd quarter valued at approximately $257,000. Quest Partners LLC bought a new stake in shares of TechTarget in the 3rd quarter worth approximately $272,000. Finally, SG Americas Securities LLC acquired a new stake in shares of TechTarget during the 3rd quarter worth approximately $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.