Lake Street Capital Lowers TechTarget (NASDAQ:TTGT) Price Target to $10.00

TechTarget (NASDAQ:TTGT) had its target price dropped by equities research analysts at Lake Street Capital from $12.00 to $10.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Lake Street Capital’s target price would suggest a potential upside of 43.72% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of 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. Needham & Company LLC lowered their target price on TechTarget from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 5th. Wall Street Zen upgraded TechTarget from a “sell” rating to a “hold” rating in a research report on Saturday, April 26th. Finally, Craig Hallum assumed coverage on TechTarget in a report on Monday, June 9th. They issued a “buy” rating and a $12.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.33.

TechTarget Price Performance

Shares of TechTarget stock traded down $0.17 during mid-day trading on Tuesday, reaching $6.96. 87,206 shares of the stock were exchanged, compared to its average volume of 304,718. TechTarget has a fifty-two week low of $6.80 and a fifty-two week high of $33.08. The company has a market cap of $203.42 million, a price-to-earnings ratio of -16.57, a price-to-earnings-growth ratio of 113.92 and a beta of 1.05. The firm has a 50-day simple moving average of $7.86 and a 200 day simple moving average of $13.85. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TTGT. Trigran Investments Inc. lifted its position in shares of TechTarget by 20.4% during the 1st quarter. Trigran Investments Inc. now owns 4,526,836 shares of the information services provider’s stock valued at $67,042,000 after acquiring an additional 767,327 shares during the period. Raymond James Financial Inc. raised its stake in TechTarget by 1,840.5% in the first quarter. Raymond James Financial Inc. now owns 461,691 shares of the information services provider’s stock valued at $6,838,000 after purchasing an additional 437,899 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in TechTarget during the first quarter worth about $3,921,000. Royal Bank of Canada grew its stake in TechTarget by 30.3% during the fourth quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider’s stock worth $19,380,000 after buying an additional 227,459 shares in the last quarter. Finally, Earnest Partners LLC increased its holdings in TechTarget by 41.3% in the 1st quarter. Earnest Partners LLC now owns 686,440 shares of the information services provider’s stock valued at $10,166,000 after buying an additional 200,495 shares during the period. Institutional investors and hedge funds 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.