Lake Street Capital Lowers TechTarget (NASDAQ:TTGT) Price Target to $24.00

TechTarget (NASDAQ:TTGT) had its target price reduced by Lake Street Capital from $36.00 to $24.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

A number of other brokerages have also recently issued reports on TTGT. Craig Hallum lifted their price target on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of TechTarget in a research report on Wednesday, November 13th. StockNews.com assumed coverage on TechTarget in a research note on Tuesday, December 24th. They set a “hold” rating for the company. Finally, KeyCorp cut their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, TechTarget currently has an average rating of “Moderate Buy” and an average price target of $36.14.

TechTarget Stock Performance

Shares of TTGT opened at $20.09 on Monday. TechTarget has a one year low of $18.26 and a one year high of $33.08. The company has a 50-day simple moving average of $26.79 and a two-hundred day simple moving average of $27.58. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. The firm has a market capitalization of $587.33 million, a PE ratio of -47.83, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05. The company had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. On average, analysts anticipate that TechTarget will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its holdings in shares of TechTarget by 399.1% during the third quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock valued at $1,123,000 after purchasing an additional 36,714 shares during the last quarter. Geode Capital Management LLC raised its stake in TechTarget by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after buying an additional 1,602 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of TechTarget by 54.0% during the 3rd quarter. M&T Bank Corp now owns 32,523 shares of the information services provider’s stock valued at $795,000 after buying an additional 11,398 shares during the period. Jane Street Group LLC boosted its stake in shares of TechTarget by 15.4% in the 3rd quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider’s stock worth $912,000 after buying an additional 4,988 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its holdings in shares of TechTarget by 31.7% in the third quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock worth $6,780,000 after acquiring an additional 66,766 shares during the period. Institutional investors own 93.52% of the company’s stock.

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.