TechTarget (NASDAQ:TTGT) Sets New 52-Week Low – Here’s What Happened

TechTarget, Inc. (NASDAQ:TTGT) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.94 and last traded at $22.18, with a volume of 29860 shares. The stock had previously closed at $22.28.

Wall Street Analyst Weigh In

TTGT has been the topic of several research analyst reports. KeyCorp decreased their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. StockNews.com started coverage on TechTarget in a report on Thursday, December 5th. They set a “hold” rating for the company. Finally, Craig Hallum raised their target price on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, TechTarget presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.17.

TechTarget Trading Down 2.9 %

The stock has a market capitalization of $623.69 million, a P/E ratio of -50.79, a price-to-earnings-growth ratio of 12.58 and a beta of 1.04. The stock’s fifty day moving average price is $28.21 and its two-hundred day moving average price is $28.52. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. The business had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. Equities research analysts forecast that TechTarget, Inc. will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in TechTarget by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after acquiring an additional 430 shares during the last quarter. Inspire Investing LLC increased its holdings in TechTarget by 4.3% during the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after purchasing an additional 469 shares during the period. Geode Capital Management LLC raised its position in TechTarget by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after purchasing an additional 1,602 shares during the last quarter. Sei Investments Co. lifted its holdings in TechTarget by 5.1% in the 2nd quarter. Sei Investments Co. now owns 34,543 shares of the information services provider’s stock worth $1,077,000 after buying an additional 1,690 shares during the period. Finally, Texas Permanent School Fund Corp grew its position in shares of TechTarget by 10.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock worth $776,000 after buying an additional 2,254 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other 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.