Craig Hallum Initiates Coverage on TechTarget (NASDAQ:TTGT)

Craig Hallum assumed coverage on shares of TechTarget (NASDAQ:TTGT - Get Free Report) in a note issued to investors on Monday. The brokerage set a "buy" rating and a $12.00 price target on the information services provider's stock. Craig Hallum's price objective would indicate a potential upside of 53.75% from the stock's current price.

A number of other analysts have also weighed in on the company. Wall Street Zen raised TechTarget from a "sell" rating to a "hold" rating in a research note on Saturday, April 26th. Lake Street Capital lowered 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. Needham & Company LLC reduced their price target on TechTarget from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Raymond James lowered TechTarget from an "outperform" rating to a "market perform" rating in a research report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, TechTarget currently has an average rating of "Moderate Buy" and an average target price of $21.33.

TechTarget Price Performance

TechTarget stock traded up $0.64 during mid-day trading on Monday, hitting $7.81. 68,136 shares of the company traded hands, compared to its average volume of 217,653. The stock has a fifty day moving average price of $8.12 and a 200-day moving average price of $14.90. The stock has a market cap of $228.18 million, a price-to-earnings ratio of -18.58, a price-to-earnings-growth ratio of 113.92 and a beta of 1.05. TechTarget has a one year low of $6.80 and a one year high of $35.11. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49.

Institutional Investors Weigh In On TechTarget

A number of hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in TechTarget by 4.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider's stock worth $295,000 after purchasing an additional 698 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in TechTarget by 3.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 22,199 shares of the information services provider's stock worth $440,000 after acquiring an additional 747 shares during the period. State of Tennessee Department of Treasury increased its position in TechTarget by 8.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider's stock valued at $239,000 after purchasing an additional 910 shares during the period. KBC Group NV increased its holdings in shares of TechTarget by 79.1% in the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider's stock valued at $43,000 after acquiring an additional 962 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of TechTarget by 18.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider's stock worth $145,000 after acquiring an additional 1,541 shares in the last quarter. Institutional investors 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.

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