TechTarget (NASDAQ:TTGT) Downgraded to "Underweight" Rating by JPMorgan Chase & Co.

TechTarget (NASDAQ:TTGT - Get Free Report) was downgraded by investment analysts at JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a report issued on Tuesday, MarketBeat.com reports. They presently have a $8.00 price target on the information services provider's stock, down from their prior price target of $18.00. JPMorgan Chase & Co.'s price target points to a potential upside of 7.82% from the company's previous close.

Several other research firms also recently issued reports on TTGT. Raymond James downgraded TechTarget from an "outperform" rating to a "market perform" rating in a research note on Tuesday, February 11th. Needham & Company LLC lowered their price target on shares of TechTarget from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, June 5th. Lake Street Capital cut their price objective on shares of TechTarget from $24.00 to $12.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Craig Hallum assumed coverage on shares of TechTarget in a research report on Monday. They set a "buy" rating and a $12.00 target price on the stock. Finally, Wall Street Zen upgraded shares of TechTarget from a "sell" rating to a "hold" rating in a research report on Saturday, April 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, TechTarget currently has an average rating of "Hold" and an average target price of $19.67.

TechTarget Stock Performance

TTGT stock traded down $0.25 during midday trading on Tuesday, reaching $7.42. 446,331 shares of the company were exchanged, compared to its average volume of 220,171. TechTarget has a one year low of $6.80 and a one year high of $35.11. The firm has a market capitalization of $216.92 million, a price-to-earnings ratio of -17.67, a price-to-earnings-growth ratio of 113.92 and a beta of 1.05. The business has a 50-day moving average price of $8.03 and a two-hundred day moving average price of $14.72. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in shares of TechTarget by 79.1% during the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider's stock worth $43,000 after buying an additional 962 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of TechTarget in the fourth quarter worth about $103,000. PNC Financial Services Group Inc. lifted its holdings in shares of TechTarget by 18.7% in the first 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 during the last quarter. MeadowBrook Investment Advisors LLC boosted its stake in shares of TechTarget by 26.4% in the 4th quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider's stock valued at $169,000 after purchasing an additional 1,780 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of TechTarget during the 4th quarter valued at approximately $173,000. 93.52% of the stock is currently 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.