Lake Street Capital Issues Pessimistic Forecast for TechTarget (NASDAQ:TTGT) Stock Price

TechTarget (NASDAQ:TTGT) had its price objective lowered by investment analysts at Lake Street Capital from $24.00 to $12.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Lake Street Capital’s price target points to a potential upside of 47.06% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.00 target price on shares of TechTarget in a report on Tuesday, January 21st. Raymond James lowered shares of TechTarget from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. StockNews.com began coverage on shares of TechTarget in a report on Monday, February 10th. They set a “hold” rating on the stock. Needham & Company LLC decreased their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, Craig Hallum cut their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

TechTarget Stock Performance

Shares of TechTarget stock opened at $8.16 on Wednesday. The company’s 50 day moving average price is $13.03 and its two-hundred day moving average price is $20.09. The firm has a market capitalization of $238.56 million, a P/E ratio of -19.43, a P/E/G ratio of 113.92 and a beta of 1.03. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. TechTarget has a fifty-two week low of $7.66 and a fifty-two week high of $35.11.

Institutional Investors Weigh In On TechTarget

Several large investors have recently added to or reduced their stakes in TTGT. Royal Bank of Canada lifted its stake in TechTarget by 30.3% in the fourth quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider’s stock valued at $19,380,000 after buying an additional 227,459 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of TechTarget by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 806,078 shares of the information services provider’s stock valued at $15,977,000 after acquiring an additional 11,646 shares during the period. Geode Capital Management LLC boosted its stake in TechTarget by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 632,704 shares of the information services provider’s stock worth $12,543,000 after acquiring an additional 21,191 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in TechTarget by 13.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 581,430 shares of the information services provider’s stock worth $11,524,000 after purchasing an additional 68,364 shares during the period. Finally, Renaissance Technologies LLC increased its stake in TechTarget by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 542,877 shares of the information services provider’s stock valued at $10,760,000 after purchasing an additional 3,710 shares in the last quarter. Institutional investors and hedge funds 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.