TechTarget (NASDAQ:TTGT) Stock Rating Lowered 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 Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Other analysts also recently issued reports about the company. Needham & Company LLC restated a "buy" rating and issued a $15.00 target price on shares of TechTarget in a research note on Wednesday, July 2nd. Craig Hallum assumed coverage on shares of TechTarget in a research report on Monday, June 9th. They issued a "buy" rating and a $12.00 price target on the stock. Lake Street Capital dropped their price target on shares of TechTarget from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. cut shares of TechTarget from a "neutral" rating to an "underweight" rating and dropped their price target for the company from $18.00 to $8.00 in a research report on Tuesday, June 10th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, TechTarget has a consensus rating of "Moderate Buy" and a consensus price target of $16.40.

TechTarget Stock Down 0.2%

Shares of TTGT traded down $0.01 during trading hours on Friday, hitting $6.06. The stock had a trading volume of 652,774 shares, compared to its average volume of 574,235. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a 50 day simple moving average of $7.05 and a 200-day simple moving average of $9.76. The firm has a market capitalization of $433.22 million, a P/E ratio of -14.43 and a beta of 0.96. TechTarget has a 1-year low of $5.55 and a 1-year high of $33.08.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its earnings results on Tuesday, August 12th. The information services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.12 by $0.17. The company had revenue of $119.94 million during the quarter, compared to the consensus estimate of $106.19 million. TechTarget had a negative return on equity of 21.56% and a negative net margin of 252.96%. Sell-side analysts predict that TechTarget will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Several hedge funds have recently modified their holdings of TTGT. GAMMA Investing LLC lifted its position in shares of TechTarget by 4,513.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,029 shares of the information services provider's stock worth $39,000 after buying an additional 4,920 shares in the last quarter. CWM LLC lifted its position in shares of TechTarget by 904.0% during the 2nd quarter. CWM LLC now owns 5,221 shares of the information services provider's stock worth $41,000 after buying an additional 4,701 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of TechTarget during the 2nd quarter worth approximately $81,000. Los Angeles Capital Management LLC bought a new position in shares of TechTarget during the 2nd quarter worth approximately $90,000. Finally, Intech Investment Management LLC lifted its position in shares of TechTarget by 13.4% during the 2nd quarter. Intech Investment Management LLC now owns 13,526 shares of the information services provider's stock worth $105,000 after buying an additional 1,601 shares in the last quarter. Institutional investors own 93.52% of the company's stock.

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.