TechTarget (NASDAQ:TTGT) Price Target Lowered to $10.00 at Lake Street Capital

TechTarget (NASDAQ:TTGT) had its price target lowered by Lake Street Capital from $12.00 to $10.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

Several other equities research analysts have also weighed in on the stock. Wall Street Zen raised shares of TechTarget from a “sell” rating to a “hold” rating in a report on Saturday, April 26th. JPMorgan Chase & Co. lowered shares of TechTarget from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $18.00 to $8.00 in a research report on Tuesday, June 10th. Needham & Company LLC decreased their price objective on shares of TechTarget from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, June 5th. Finally, Craig Hallum started coverage on shares of TechTarget in a report on Monday, June 9th. They set a “buy” rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, TechTarget has a consensus rating of “Hold” and a consensus target price of $19.33.

TechTarget Stock Performance

Shares of TechTarget stock opened at $6.67 on Tuesday. The firm has a market cap of $195.03 million, a P/E ratio of -15.88 and a beta of 1.05. The firm’s 50-day simple moving average is $7.81 and its 200-day simple moving average is $13.80. TechTarget has a twelve month low of $6.64 and a twelve month high of $35.11.

Hedge Funds Weigh In On TechTarget

A number of large investors have recently modified their holdings of TTGT. Norges Bank acquired a new stake in shares of TechTarget in the fourth quarter valued at approximately $1,364,000. Impax Asset Management Group plc boosted its position in TechTarget by 21.3% in the 4th quarter. Impax Asset Management Group plc now owns 426,387 shares of the information services provider’s stock valued at $8,451,000 after buying an additional 75,000 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of TechTarget by 5.4% in the 4th quarter. Principal Financial Group Inc. now owns 128,412 shares of the information services provider’s stock valued at $2,545,000 after buying an additional 6,577 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of TechTarget by 13.3% during 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 acquiring an additional 68,364 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of TechTarget by 30.3% during 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 acquiring an additional 227,459 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.