Craig Hallum Begins Coverage on TechTarget (NASDAQ:TTGT)

Craig Hallum assumed coverage on shares of TechTarget (NASDAQ:TTGT) in a report issued on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $12.00 price target on the information services provider’s stock. Craig Hallum’s target price suggests a potential upside of 61.73% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Raymond James cut TechTarget from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. Lake Street Capital decreased their price objective on TechTarget from $24.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Wall Street Zen upgraded TechTarget from a “sell” rating to a “hold” rating in a report on Saturday, April 26th. Finally, Needham & Company LLC cut their target price on TechTarget from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, TechTarget has an average rating of “Hold” and a consensus price target of $19.67.

TechTarget Stock Performance

TTGT opened at $7.42 on Monday. The stock’s 50 day simple moving average is $7.99 and its 200 day simple moving average is $14.67. The stock has a market cap of $216.92 million, a P/E ratio of -17.67, a P/E/G ratio of 113.92 and a beta of 1.05. 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 1-year low of $6.80 and a 1-year high of $35.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in TechTarget by 4.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider’s stock worth $295,000 after buying an additional 698 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of TechTarget by 3.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 22,199 shares of the information services provider’s stock valued at $440,000 after acquiring an additional 747 shares during the last quarter. State of Tennessee Department of Treasury lifted its position in shares of TechTarget by 8.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider’s stock valued at $239,000 after acquiring an additional 910 shares during the last quarter. KBC Group NV lifted its position in shares of TechTarget by 79.1% during the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 962 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of TechTarget by 18.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider’s stock worth $145,000 after buying an additional 1,541 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.