KeyCorp Has Lowered Expectations for TechTarget (NASDAQ:TTGT) Stock Price

TechTarget (NASDAQ:TTGT) had its price target lowered by equities research analysts at KeyCorp from $38.00 to $37.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. KeyCorp’s price objective indicates a potential upside of 27.54% from the stock’s current price.

A number of other research firms have also weighed in on TTGT. Craig Hallum boosted their target price on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research note on Wednesday. Finally, Raymond James cut their target price 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 research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, TechTarget presently has a consensus rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Price Performance

Shares of NASDAQ:TTGT opened at $29.01 on Thursday. The company has a quick ratio of 9.35, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The stock has a market cap of $848.25 million, a PE ratio of -69.07, a PEG ratio of 31.84 and a beta of 1.03. The company’s fifty day moving average is $26.56 and its 200 day moving average is $28.64. TechTarget has a 52 week low of $22.82 and a 52 week high of $41.93.

Hedge Funds Weigh In On TechTarget

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of TechTarget by 2.5% in the 3rd quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock valued at $60,042,000 after purchasing an additional 60,191 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of TechTarget by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock worth $24,717,000 after acquiring an additional 8,681 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in TechTarget by 19.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock valued at $12,545,000 after acquiring an additional 82,626 shares during the period. Earnest Partners LLC boosted its stake in TechTarget by 6.3% during the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock worth $15,451,000 after acquiring an additional 29,375 shares in the last quarter. Finally, Impax Asset Management Group plc grew its holdings 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 worth $8,591,000 after purchasing an additional 70,000 shares during the period. 93.52% of the stock is owned by 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.