Needham & Company LLC Reiterates Buy Rating for TechTarget (NASDAQ:TTGT)

TechTarget (NASDAQ:TTGT - Get Free Report)'s stock had its "buy" rating restated by Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $15.00 price target on the information services provider's stock. Needham & Company LLC's target price would suggest a potential upside of 119.46% from the stock's previous close.

Several other analysts have also weighed in on the company. Lake Street Capital lowered their target price on TechTarget from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. Craig Hallum assumed coverage on shares of TechTarget in a research note on Monday, June 9th. They issued a "buy" rating and a $12.00 price objective on the stock. Wall Street Zen upgraded shares of TechTarget from a "sell" rating to a "hold" rating in a report on Saturday, April 26th. Finally, JPMorgan Chase & Co. cut shares of TechTarget from a "neutral" rating to an "underweight" rating and cut their target price for the stock from $18.00 to $8.00 in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, TechTarget presently has an average rating of "Hold" and a consensus price target of $19.33.

TechTarget Stock Performance

TTGT stock traded down $0.08 during trading on Wednesday, reaching $6.84. 492,865 shares of the company were exchanged, compared to its average volume of 252,211. The stock's 50 day moving average price is $7.62 and its 200 day moving average price is $12.46. TechTarget has a 52-week low of $6.51 and a 52-week high of $35.11. The company has a market cap of $488.63 million, a P/E ratio of -16.27 and a beta of 1.02.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Trigran Investments Inc. lifted its stake in shares of TechTarget by 20.4% during the 1st quarter. Trigran Investments Inc. now owns 4,526,836 shares of the information services provider's stock worth $67,042,000 after purchasing an additional 767,327 shares during the period. Raymond James Financial Inc. increased its stake in TechTarget by 1,840.5% in the first quarter. Raymond James Financial Inc. now owns 461,691 shares of the information services provider's stock valued at $6,838,000 after purchasing an additional 437,899 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in TechTarget in the first quarter valued at $3,921,000. Royal Bank of Canada lifted its position in TechTarget by 30.3% during the fourth quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider's stock worth $19,380,000 after buying an additional 227,459 shares during the period. Finally, Earnest Partners LLC boosted its stake in TechTarget by 41.3% in the 1st quarter. Earnest Partners LLC now owns 686,440 shares of the information services provider's stock worth $10,166,000 after buying an additional 200,495 shares during the last quarter. Institutional investors and hedge funds 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.