TechTarget (NASDAQ:TTGT) Cut to “Underweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of TechTarget (NASDAQ:TTGT) from a neutral rating to an underweight rating in a research report sent to investors on Tuesday, MarketBeat reports. The brokerage currently has $8.00 target price on the information services provider’s stock, down from their previous target price of $18.00.

TTGT has been the subject of several other research reports. Craig Hallum began coverage on TechTarget in a research note on Monday. They issued a “buy” rating and a $12.00 price target for the company. Raymond James cut TechTarget from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 11th. Needham & Company LLC lowered their price target on TechTarget from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, June 5th. Lake Street Capital dropped their price objective on shares of TechTarget from $24.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Finally, Wall Street Zen raised TechTarget from a “sell” rating to a “hold” rating in a research note on Saturday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.67.

TechTarget Stock Performance

Shares of TTGT opened at $7.22 on Tuesday. The company has a market capitalization of $211.08 million, a price-to-earnings ratio of -17.19, a PEG ratio of 113.92 and a beta of 1.05. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. TechTarget has a 1 year low of $6.80 and a 1 year high of $35.11. The company’s 50 day simple moving average is $7.95 and its 200 day simple moving average is $14.62.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. First Hawaiian Bank bought a new stake in TechTarget during the first quarter valued at $331,000. Inspire Investing LLC bought a new position in TechTarget in the 1st quarter worth about $349,000. Punch & Associates Investment Management Inc. grew its position in TechTarget by 2.4% during the first quarter. Punch & Associates Investment Management Inc. now owns 477,370 shares of the information services provider’s stock worth $7,070,000 after buying an additional 11,387 shares in the last quarter. Earnest Partners LLC grew its position in TechTarget by 41.3% in the first quarter. Earnest Partners LLC now owns 686,440 shares of the information services provider’s stock worth $10,166,000 after acquiring an additional 200,495 shares in the last quarter. Finally, Worth Venture Partners LLC lifted its stake in TechTarget by 71.6% in the first quarter. Worth Venture Partners LLC now owns 47,376 shares of the information services provider’s stock worth $702,000 after purchasing an additional 19,775 shares during the last quarter. 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.