TechTarget, Inc. (NASDAQ:TTGT) Given Average Rating of “Moderate Buy” by Analysts

TechTarget, Inc. (NASDAQ:TTGT) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $19.33.

A number of equities analysts recently issued reports on the company. Lake Street Capital cut their target price on TechTarget from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, June 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of TechTarget in a research note on Wednesday, July 2nd. Wall Street Zen raised shares of TechTarget from a “sell” rating to a “hold” rating in a research report on Saturday, April 26th. Craig Hallum initiated coverage on shares of TechTarget in a research report on Monday, June 9th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, JPMorgan Chase & Co. downgraded TechTarget from a “neutral” rating to an “underweight” rating and cut their price target for the company from $18.00 to $8.00 in a research note on Tuesday, June 10th.

Institutional Investors Weigh In On TechTarget

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of TechTarget by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 226,036 shares of the information services provider’s stock worth $4,480,000 after buying an additional 6,074 shares during the last quarter. Quantbot Technologies LP bought a new stake in TechTarget during the fourth quarter worth $173,000. KLP Kapitalforvaltning AS purchased a new position in TechTarget in the fourth quarter worth $103,000. LPL Financial LLC grew its stake in TechTarget by 27.7% in the 4th quarter. LPL Financial LLC now owns 57,403 shares of the information services provider’s stock valued at $1,138,000 after purchasing an additional 12,459 shares during the period. Finally, Zions Bancorporation N.A. grew its stake in TechTarget by 25.0% in the 4th quarter. Zions Bancorporation N.A. now owns 54,492 shares of the information services provider’s stock valued at $1,080,000 after purchasing an additional 10,898 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

TechTarget Stock Performance

TTGT stock opened at $7.40 on Friday. The stock’s 50 day simple moving average is $7.51 and its 200 day simple moving average is $11.94. The company has a market cap of $529.03 million, a P/E ratio of -17.62 and a beta of 1.02. TechTarget has a fifty-two week low of $6.49 and a fifty-two week high of $35.11.

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.