TechTarget (NASDAQ:TTGT) PT Lowered to $39.00 at Raymond James

TechTarget (NASDAQ:TTGT) had its target price lowered by Raymond James from $45.00 to $39.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the information services provider’s stock.

Several other research firms also recently commented on TTGT. TheStreet downgraded shares of TechTarget from a c rating to a d+ rating in a research note on Wednesday, February 7th. KeyCorp reduced their price target on TechTarget from $58.00 to $40.00 and set an overweight rating on the stock in a research report on Monday, January 22nd. UBS Group upgraded TechTarget from a neutral rating to a buy rating and upped their target price for the company from $31.00 to $45.00 in a research report on Wednesday, January 31st. Finally, Needham & Company LLC restated a buy rating and issued a $50.00 price target on shares of TechTarget in a research report on Friday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $37.88.

TechTarget Price Performance

TechTarget stock opened at $29.19 on Friday. The company has a market capitalization of $833.35 million, a price-to-earnings ratio of -116.76, a PEG ratio of 8.70 and a beta of 0.99. The stock’s 50 day moving average is $29.91 and its 200-day moving average is $31.20. The company has a current ratio of 10.04, a quick ratio of 10.04 and a debt-to-equity ratio of 1.84. TechTarget has a 12 month low of $23.43 and a 12 month high of $41.93.

Insider Activity at TechTarget

In other news, COO Steven Niemiec sold 13,608 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total transaction of $438,177.60. Following the completion of the transaction, the chief operating officer now directly owns 40,755 shares in the company, valued at $1,312,311. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Rebecca Kitchens sold 13,666 shares of TechTarget stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total transaction of $440,045.20. Following the transaction, the president now owns 53,920 shares in the company, valued at $1,736,224. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Steven Niemiec sold 13,608 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $438,177.60. Following the completion of the sale, the chief operating officer now owns 40,755 shares of the company’s stock, valued at $1,312,311. The disclosure for this sale can be found here. 10.74% of the stock is owned by insiders.

Hedge Funds Weigh In On TechTarget

A number of hedge funds have recently made changes to their positions in TTGT. Raymond James & Associates increased its position in shares of TechTarget by 22.3% during the third quarter. Raymond James & Associates now owns 23,560 shares of the information services provider’s stock worth $715,000 after buying an additional 4,292 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of TechTarget by 28.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,034 shares of the information services provider’s stock valued at $426,000 after purchasing an additional 3,076 shares during the period. M&T Bank Corp boosted its position in shares of TechTarget by 29.0% during the 3rd quarter. M&T Bank Corp now owns 29,818 shares of the information services provider’s stock valued at $906,000 after purchasing an additional 6,711 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in TechTarget by 18.0% in the third quarter. Rice Hall James & Associates LLC now owns 188,308 shares of the information services provider’s stock worth $5,717,000 after purchasing an additional 28,736 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of TechTarget by 160.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 202,105 shares of the information services provider’s stock worth $6,136,000 after buying an additional 124,433 shares during the period. 93.52% of the stock is currently 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.