TechTarget price target lowered to $41 from $47 at Cowen

Cowen analyst Bryan Bergin lowered the firm’s price target on TechTarget to $41 from $47 and keeps a Market Perform rating on the shares. The analyst said the company’s 2023 guidance was a "notable miss" across the board, adding that th ecompany cited a notable deterioration in demand trends in December that have persisted into Q1. The firm believes that, while valuation has significantly de-rated, S&M budget scrutiny is apt to persist amid macro caution, weighing on visibility.