TechTarget (NASDAQ:TTGT) Price Target Lowered to $8.00 at Needham & Company LLC

TechTarget (NASDAQ:TTGT) had its price objective decreased by Needham & Company LLC from $15.00 to $8.00 in a research note published on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the information services provider’s stock.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of TechTarget in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.00.

TechTarget Stock Down 10.9%

Shares of NASDAQ:TTGT opened at $3.84 on Friday. The firm has a market capitalization of $277.63 million, a P/E ratio of -1.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a 50 day moving average price of $3.91 and a 200-day moving average price of $4.40. TechTarget has a 52-week low of $3.37 and a 52-week high of $7.15.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Thursday, August 6th. The information services provider reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.09). The firm had revenue of $116.15 million for the quarter, compared to the consensus estimate of $119.55 million. TechTarget had a negative net margin of 36.85% and a negative return on equity of 0.60%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in shares of TechTarget by 103.5% in the third quarter. BNP Paribas Financial Markets now owns 5,658 shares of the information services provider’s stock worth $33,000 after acquiring an additional 2,877 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of TechTarget in the 4th quarter worth about $55,000. The Manufacturers Life Insurance Company purchased a new position in shares of TechTarget in the 2nd quarter worth about $81,000. CWM LLC boosted its stake in TechTarget by 454.8% in the 4th quarter. CWM LLC now owns 10,664 shares of the information services provider’s stock worth $58,000 after purchasing an additional 8,742 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new position in TechTarget in the 4th quarter worth about $58,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

TechTarget Company Profile

TechTarget, Inc operates as a specialized media and information services company focused on the technology sector. Through a network of over 140 online channels and dedicated sites covering a wide range of IT topics—from cloud computing and cybersecurity to data analytics and storage—the company delivers targeted content, research, and insights to enterprise technology buyers. TechTarget’s offerings enable technology vendors and service providers to engage with qualified audiences at every stage of the purchasing cycle.

The company’s core products include purchase intent data solutions and lead-generation platforms designed to identify and nurture prospects actively researching technology solutions.