TechTarget (NASDAQ:TTGT) Stock Price Down 2.3% – Time to Sell?

TechTarget, Inc. (NASDAQ:TTGT) fell 2.3% during mid-day trading on Tuesday . The stock traded as low as $18.74 and last traded at $18.82. 64,526 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 343,540 shares. The stock had previously closed at $19.26.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Craig Hallum upped their price objective on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp dropped their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of TechTarget in a research note on Wednesday, November 13th. Finally, StockNews.com began coverage on TechTarget in a research note on Tuesday. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, TechTarget currently has an average rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Stock Down 4.4 %

The stock’s 50-day simple moving average is $27.71 and its 200-day simple moving average is $28.00. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $538.51 million, a P/E ratio of -43.86, a P/E/G ratio of 12.04 and a beta of 1.04.

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

Institutional Trading of TechTarget

A number of large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its position in shares of TechTarget by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after acquiring an additional 430 shares during the period. Inspire Investing LLC lifted its stake in TechTarget by 4.3% in the second 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 last quarter. Geode Capital Management LLC grew its holdings in TechTarget by 0.3% during the third 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 period. Sei Investments Co. grew its holdings in TechTarget by 5.1% during the second quarter. Sei Investments Co. now owns 34,543 shares of the information services provider’s stock valued at $1,077,000 after purchasing an additional 1,690 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in TechTarget by 10.0% in the second 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. Hedge funds and other institutional investors own 93.52% of the company’s stock.

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.