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On Monday, Craig-Hallum initiated coverage on TechTarget , Inc. (NASDAQ:TTGT) with a Buy rating and established a price target of $12.00, representing significant upside from the current price of $7.77. According to InvestingPro data, the stock is trading near its 52-week low of $6.80, having declined over 76% in the past year. Analyst Jason Kreyer commented on the company’s recent progress, noting that TechTarget has overcome its filing delays, which are now considered resolved. TechTarget recently conducted its Q4 earnings call, following a series of filing errors related to accounting standards and the separation of Informa (LON:INF) Tech.
The company has filed its 10-K and is expected to file its 10-Q in the upcoming weeks, aiming to have current filings before July. Kreyer highlighted that TechTarget is in the middle of a significant integration process. However, it is taking appropriate steps to prepare for growth in the coming years. These steps include consolidating its product portfolio, reorganizing sales leadership, and focusing its go-to-market strategy on the most significant opportunities.
Kreyer believes that these strategic changes will lead to a return to growth and steady improvements in profitability as the company exits the current year. He pointed out that the legacy TechTarget business carried a 12x trough EBITDA multiple, and with the stock currently trading at approximately 5x the firm’s FY26 EBITDA estimates, which have been set conservatively, the valuation is considered undervalued. InvestingPro analysis reveals additional value indicators, including a low Price/Book ratio of 0.35. Discover 12 more exclusive ProTips and comprehensive valuation metrics with an InvestingPro subscription.
The analyst sees the risk/reward profile for TechTarget as attractive, with potential scenarios that could see the company’s EBITDA multiples increase to 15-20x. This could represent a $20-30 price opportunity, or a fourfold return from current levels, according to Kreyer’s analysis. With these prospects and analyst targets ranging from $12 to $18, TechTarget is positioned for a positive trajectory in the market. For detailed insights into TechTarget’s valuation and growth potential, access the comprehensive Pro Research Report available exclusively on InvestingPro.
In other recent news, TechTarget Inc. reported a significant earnings miss for the first quarter of 2025, with an earnings per share (EPS) of -$0.22, falling short of the analyst forecast of $0.3613. Despite this, the company managed to surpass revenue expectations, achieving $98.9 million against a projected $54.04 million. These developments come as TechTarget continues to navigate a challenging market environment, influenced by geopolitical tensions and macroeconomic uncertainties. The company is leveraging artificial intelligence to enhance its product offerings and operational efficiency, with an optimistic outlook for improved performance in the latter half of 2025. TechTarget’s strategic initiatives include a focus on achieving its $45 million synergy target and increasing adjusted EBITDA. Analyst firms such as Needham and Craig Hallum have engaged with the company, discussing the impact of AI and cost synergies, with Needham noting the company’s intention to meet or exceed synergy expectations. The company also reported a GAAP net loss for 2024 of $117 million and an adjusted EBITDA of $31 million. TechTarget’s financial position remains robust, with cash and cash equivalents totaling $354 million.
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