TechTarget (NASDAQ:TTGT) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• TechTarget’s stock rating has been downgraded from "hold" to "sell" by Wall Street Zen, highlighting concerns about the company's performance.
• JPMorgan Chase downgraded TechTarget from "neutral" to "underweight," adjusting its target price from $18.00 to $8.00, while other analysts have varied opinions ranging from "buy" to "sell."
• Despite reporting better-than-expected earnings and revenue, the company has a negative return on equity and high net margin losses, indicating underlying financial challenges.

TechTarget (NASDAQ:TTGT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on TTGT. JPMorgan Chase & Co. downgraded TechTarget from a "neutral" rating to an "underweight" rating and decreased their target price for the stock from $18.00 to $8.00 in a research report on Tuesday, June 10th. Craig Hallum initiated coverage on TechTarget in a research report on Monday, June 9th. They set a "buy" rating and a $12.00 target price on the stock. Lake Street Capital decreased their target price on TechTarget from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Finally, Needham & Company LLC reissued a "buy" rating and set a $15.00 target price on shares of TechTarget in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, TechTarget currently has a consensus rating of "Hold" and a consensus target price of $16.40.

TechTarget Trading Up 1.7%

Shares of NASDAQ:TTGT opened at $6.10 on Friday. TechTarget has a 52-week low of $5.55 and a 52-week high of $33.08. The company has a market cap of $436.09 million, a P/E ratio of -14.52 and a beta of 0.96. The stock's 50-day moving average is $7.13 and its 200-day moving average is $9.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 0.96.

TechTarget (NASDAQ:TTGT - Get Free Report) last released its earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.17. TechTarget had a negative return on equity of 21.56% and a negative net margin of 252.96%. The business had revenue of $119.94 million for the quarter, compared to the consensus estimate of $106.19 million. Equities research analysts predict that TechTarget will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On TechTarget

A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in TechTarget by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider's stock valued at $295,000 after purchasing an additional 698 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in TechTarget by 3.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 22,199 shares of the information services provider's stock valued at $440,000 after purchasing an additional 747 shares in the last quarter. State of Tennessee Department of Treasury boosted its holdings in TechTarget by 8.2% during the fourth 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 in the last quarter. PNC Financial Services Group Inc. boosted its holdings 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. Finally, Intech Investment Management LLC boosted its holdings in shares of TechTarget by 13.4% in the 2nd quarter. Intech Investment Management LLC now owns 13,526 shares of the information services provider's stock worth $105,000 after acquiring an additional 1,601 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

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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