TechTarget (NASDAQ:TTGT) Sets New 12-Month Low – Here’s What Happened

TechTarget, Inc. (NASDAQ:TTGT) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $18.26 and last traded at $18.42, with a volume of 4000 shares. The stock had previously closed at $18.46.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TTGT. KeyCorp cut 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 research report on Wednesday, November 13th. Craig Hallum increased their price objective on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, StockNews.com assumed coverage on TechTarget in a report on Tuesday. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, TechTarget has an average rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Stock Performance

The stock has a market cap of $569.50 million, a P/E ratio of -46.38, a P/E/G ratio of 12.04 and a beta of 1.04. The firm has a 50 day moving average of $26.97 and a two-hundred day moving average of $27.71. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $58.14 million. During the same period in the prior year, the business earned $0.13 earnings per share. TechTarget’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts predict that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its stake in TechTarget by 4.5% during the second 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 increased its position in shares of TechTarget by 4.3% during 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 period. Geode Capital Management LLC increased its position in shares of 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. raised its stake in shares of TechTarget by 5.1% in 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 in the last quarter. Finally, Texas Permanent School Fund Corp lifted 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 purchasing an additional 2,254 shares during the period. Institutional investors and hedge funds 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.