TechTarget (NASDAQ:TTGT) Trading 8.3% Higher - Still a Buy?

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TTGT shares. Wall Street Zen upgraded TechTarget from a "sell" rating to a "hold" rating in a research report on Saturday, April 26th. Needham & Company LLC cut their price target on TechTarget from $25.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, June 5th. Lake Street Capital reduced 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. Craig Hallum initiated coverage on shares of TechTarget in a research report on Monday, June 9th. They issued a "buy" rating and a $12.00 price objective for the company. Finally, JPMorgan Chase & Co. downgraded shares of TechTarget from a "neutral" rating to an "underweight" rating and dropped their target price for the stock from $18.00 to $8.00 in a research note on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, TechTarget presently has a consensus rating of "Hold" and a consensus price target of $19.33.

TechTarget Stock Up 9.0%

The firm has a market capitalization of $546.90 million, a price-to-earnings ratio of -18.21 and a beta of 1.05. The company's fifty day moving average is $7.62 and its two-hundred day moving average is $12.72.

Hedge Funds Weigh In On TechTarget

Hedge funds have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new stake in shares of TechTarget in the 4th quarter valued at about $103,000. PNC Financial Services Group Inc. grew its holdings in TechTarget by 18.7% during the first quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider's stock valued at $145,000 after purchasing an additional 1,541 shares during the period. Quantbot Technologies LP bought a new stake in TechTarget in the fourth quarter valued at approximately $173,000. Louisiana State Employees Retirement System bought a new stake in TechTarget in the first quarter valued at approximately $190,000. Finally, Boston Partners acquired a new stake in TechTarget in the first quarter worth $202,000. 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.

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