TechTarget (NASDAQ:TTGT) Price Target Cut to $33.00 by Analysts at Deutsche Bank Aktiengesellschaft

TechTarget (NASDAQ:TTGT - Get Free Report) had its price objective cut by stock analysts at Deutsche Bank Aktiengesellschaft from $40.00 to $33.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a "hold" rating on the information services provider's stock. Deutsche Bank Aktiengesellschaft's price objective indicates a potential upside of 13.05% from the stock's current price.

A number of other analysts have also commented on the company. TheStreet lowered TechTarget from a "c" rating to a "d+" rating in a report on Wednesday, February 7th. UBS Group upgraded shares of TechTarget from a "neutral" rating to a "buy" rating and increased their price target for the company from $31.00 to $45.00 in a research report on Wednesday, January 31st. Raymond James lowered their price objective on shares of TechTarget from $45.00 to $39.00 and set an "outperform" rating on the stock in a research report on Friday. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price target on shares of TechTarget in a report on Friday. Finally, KeyCorp reduced their price objective on TechTarget from $58.00 to $40.00 and set an "overweight" rating for the company in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $37.88.

TechTarget Stock Up 4.8 %

Shares of TechTarget stock traded up $1.34 on Friday, hitting $29.19. The company had a trading volume of 169,668 shares, compared to its average volume of 137,392. The stock has a market capitalization of $833.35 million, a price-to-earnings ratio of 177.00, a P/E/G ratio of 8.35 and a beta of 0.99. The stock has a 50 day moving average of $29.96 and a 200-day moving average of $31.11. TechTarget has a 1 year low of $23.43 and a 1 year high of $41.93. The company has a debt-to-equity ratio of 1.84, a quick ratio of 10.04 and a current ratio of 10.04.

TechTarget (NASDAQ:TTGT - Get Free Report) last announced its earnings results on Wednesday, February 7th. The information services provider reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. TechTarget had a net margin of 1.94% and a return on equity of 8.53%. The company had revenue of $57.29 million during the quarter, compared to the consensus estimate of $56.73 million. As a group, sell-side analysts forecast that TechTarget will post 0.62 earnings per share for the current year.

Insider Transactions at TechTarget

In related news, COO Steven Niemiec sold 13,608 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total transaction of $438,177.60. Following the sale, the chief operating officer now owns 40,755 shares of the company's stock, valued at approximately $1,312,311. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Rebecca Kitchens sold 13,666 shares of the business's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total transaction of $440,045.20. Following the completion of the transaction, the president now directly owns 53,920 shares in the company, valued at approximately $1,736,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven Niemiec sold 13,608 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $438,177.60. Following the completion of the sale, the chief operating officer now owns 40,755 shares in the company, valued at approximately $1,312,311. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company's stock.

Hedge Funds Weigh In On TechTarget

A number of institutional investors have recently added to or reduced their stakes in the business. Trigran Investments Inc. grew its holdings in shares of TechTarget by 49.5% during the third quarter. Trigran Investments Inc. now owns 2,671,510 shares of the information services provider's stock worth $81,107,000 after purchasing an additional 884,295 shares in the last quarter. Kent Lake Capital LLC purchased a new position in TechTarget in the 3rd quarter worth approximately $6,831,000. Federated Hermes Inc. increased its holdings in shares of TechTarget by 249.2% in the 4th quarter. Federated Hermes Inc. now owns 219,739 shares of the information services provider's stock worth $7,660,000 after buying an additional 156,814 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of TechTarget by 152.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 254,476 shares of the information services provider's stock valued at $7,726,000 after buying an additional 153,761 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of TechTarget by 160.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 202,105 shares of the information services provider's stock worth $6,136,000 after acquiring an additional 124,433 shares during the last quarter. 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.

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