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

TechTarget (NASDAQ:TTGT)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $40.00 target price on the information services provider’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 25.67% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. KeyCorp dropped their target price on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Raymond James lowered their target price on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Finally, Craig Hallum boosted their price objective on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, TechTarget currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

TechTarget Stock Performance

Shares of NASDAQ TTGT traded up $0.23 during trading on Wednesday, hitting $31.83. The company had a trading volume of 93,847 shares, compared to its average volume of 128,583. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.35 and a current ratio of 9.35. TechTarget has a 12 month low of $22.82 and a 12 month high of $41.93. The firm has a market capitalization of $930.71 million, a P/E ratio of -75.12, a price-to-earnings-growth ratio of 31.15 and a beta of 1.03. The stock has a 50 day simple moving average of $26.24 and a 200 day simple moving average of $28.58.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TTGT. BOKF NA bought a new stake in shares of TechTarget in the 2nd quarter valued at approximately $239,000. The Manufacturers Life Insurance Company boosted its holdings in TechTarget by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after acquiring an additional 430 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new position in TechTarget in the third quarter valued at about $245,000. State Board of Administration of Florida Retirement System increased its position in shares of TechTarget by 37.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock worth $370,000 after purchasing an additional 2,790 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of TechTarget during the 3rd quarter worth about $257,000. 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.