KeyCorp Lowers TechTarget (NASDAQ:TTGT) Price Target to $37.00

TechTarget (NASDAQ:TTGT) had its price target cut by KeyCorp from $38.00 to $37.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the information services provider’s stock.

TTGT has been the topic of a number of other research reports. Craig Hallum raised their target price on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James decreased their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of TechTarget in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Stock Performance

Shares of TechTarget stock opened at $29.01 on Thursday. The company has a current ratio of 10.49, a quick ratio of 9.35 and a debt-to-equity ratio of 1.65. TechTarget has a 1-year low of $22.82 and a 1-year high of $41.93. The company’s fifty day simple moving average is $26.64 and its 200-day simple moving average is $28.65.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The business had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. TechTarget’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that TechTarget will post 0.57 earnings per share for the current year.

Hedge Funds Weigh In On TechTarget

Hedge funds and other institutional investors have recently modified their holdings of the stock. BOKF NA bought a new stake in TechTarget in the 2nd quarter valued at $239,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of TechTarget in the third quarter worth about $245,000. Intech Investment Management LLC bought a new position in TechTarget during the third quarter valued at approximately $257,000. Quest Partners LLC purchased a new position in TechTarget during the 3rd quarter valued at approximately $272,000. Finally, SG Americas Securities LLC bought a new stake in TechTarget in the 3rd quarter worth approximately $307,000. 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.