TechTarget (NASDAQ:TTGT) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of TechTarget (NASDAQ:TTGT) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $40.00 price target on the information services provider’s stock.

A number of other analysts have also recently commented on the company. Raymond James reduced their price target on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Craig Hallum raised their price target on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. Finally, KeyCorp dropped their price objective on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TechTarget currently has an average rating of “Moderate Buy” and an average target price of $38.33.

TechTarget Stock Up 2.2 %

TTGT opened at $32.31 on Wednesday. TechTarget has a 1-year low of $22.82 and a 1-year high of $41.93. The firm’s 50 day simple moving average is $26.48 and its two-hundred day simple moving average is $28.63. The company has a market capitalization of $944.74 million, a PE ratio of -76.93, a PEG ratio of 31.15 and a beta of 1.03. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 1.74.

Hedge Funds Weigh In On TechTarget

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTGT. FMR LLC grew its stake in shares of TechTarget by 2.5% in the 3rd quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after buying an additional 60,191 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of TechTarget by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock worth $24,717,000 after acquiring an additional 8,681 shares during the last quarter. Earnest Partners LLC grew its position in TechTarget by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after acquiring an additional 29,375 shares during the last quarter. Impax Asset Management Group plc increased its stake in TechTarget by 24.9% in the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 70,000 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of TechTarget by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock worth $9,974,000 after purchasing an additional 8,212 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

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.