TechTarget (NASDAQ:TTGT) Shares Up 8.3% - Should You Buy?

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report)'s share price rose 8.3% during trading on Monday . The stock traded as high as $7.65 and last traded at $7.60. Approximately 214,602 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 242,010 shares. The stock had previously closed at $7.02.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Lake Street Capital decreased their price objective 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 initiated coverage on shares of TechTarget in a research note on Monday, June 9th. They issued a "buy" rating and a $12.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price objective on shares of TechTarget in a report on Wednesday. JPMorgan Chase & Co. cut shares of TechTarget from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $18.00 to $8.00 in a research note on Tuesday, June 10th. Finally, Wall Street Zen upgraded shares of TechTarget from a "sell" rating to a "hold" rating in a research note on Saturday, April 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, TechTarget presently has an average rating of "Hold" and an average price target of $19.33.

TechTarget Price Performance

The company has a market cap of $488.63 million, a P/E ratio of -16.27 and a beta of 1.02. The business's 50 day moving average price is $7.64 and its 200-day moving average price is $12.56.

Hedge Funds Weigh In On TechTarget

Several institutional investors have recently bought and sold shares of TTGT. KLP Kapitalforvaltning AS bought a new stake in TechTarget during the 4th quarter worth about $103,000. PNC Financial Services Group Inc. lifted its holdings in TechTarget by 18.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider's stock worth $145,000 after buying an additional 1,541 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of TechTarget during the fourth quarter worth $173,000. Louisiana State Employees Retirement System bought a new position in shares of TechTarget in the 1st quarter valued at about $190,000. Finally, Boston Partners bought a new position in shares of TechTarget in the 1st quarter worth $202,000. Institutional investors 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.