TechTarget price target lowered to $25 from $40 at Needham

Needham analyst Joshua Reilly lowered the firm’s price target on TechTarget (TTGT) to $25 from $40 and keeps a Buy rating on the shares ahead of its Q4 results. The firm expects the management to be cautious on the macro given the risk of a double-dip recession in sales and marketing activity in the first half of 2025 after 24 months of challenging trends. Needham adds that it previously expected a greater recovery in the seasonally important April/May time frame for the company, but given current macro trends, that may be too much to overcome in the current environment.