TechTarget (NASDAQ:TTGT) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of TechTarget (NASDAQ:TTGT) in a research report released on Wednesday,Benzinga reports. The firm currently has a $15.00 price objective on the information services provider’s stock.

Several other brokerages also recently weighed in on TTGT. JPMorgan Chase & Co. downgraded TechTarget from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $18.00 to $8.00 in a research report on Tuesday, June 10th. Lake Street Capital dropped their price objective on TechTarget from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, June 17th. Craig Hallum started coverage on TechTarget in a research report on Monday, June 9th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Wall Street Zen upgraded TechTarget from a “sell” rating to a “hold” rating in a research report on Saturday, April 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.33.

TechTarget Stock Down 1.1%

Shares of TTGT stock opened at $6.84 on Wednesday. TechTarget has a twelve month low of $6.51 and a twelve month high of $35.11. The company has a market cap of $488.63 million, a P/E ratio of -16.27 and a beta of 1.02. The business has a fifty day simple moving average of $7.60 and a 200 day simple moving average of $12.37.

Hedge Funds Weigh In On TechTarget

Several large investors have recently bought and sold shares of TTGT. KLP Kapitalforvaltning AS bought a new position in TechTarget in the fourth quarter valued at about $103,000. PNC Financial Services Group Inc. raised its position in 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 valued at $145,000 after purchasing an additional 1,541 shares during the last quarter. Quantbot Technologies LP bought a new position in TechTarget in the fourth quarter valued at about $173,000. Louisiana State Employees Retirement System bought a new position in TechTarget in the first quarter valued at about $190,000. Finally, Boston Partners bought a new position in TechTarget in the first quarter valued at about $202,000. 93.52% of the stock is currently owned by institutional investors.

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.