TechTarget (NASDAQ:TTGT) Hits New 12-Month Low – Time to Sell?

TechTarget, Inc. (NASDAQ:TTGT)’s stock price hit a new 52-week low on Friday . The company traded as low as $19.53 and last traded at $19.59, with a volume of 706167 shares changing hands. The stock had previously closed at $20.34.

Wall Street Analyst Weigh In

TTGT has been the topic of a number of research analyst reports. Craig Hallum increased 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. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of TechTarget in a research note on Wednesday, November 13th. StockNews.com started coverage on TechTarget in a report on Thursday, December 5th. They set a “hold” rating on the stock. Finally, KeyCorp decreased their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.17.

TechTarget Price Performance

The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The company’s fifty day moving average is $27.92 and its 200 day moving average is $28.19. The firm has a market cap of $571.54 million, a price-to-earnings ratio of -46.55, a PEG ratio of 12.04 and a beta of 1.04.

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

Institutional Trading of TechTarget

Several hedge funds have recently bought and sold shares of the business. BOKF NA bought a new position in TechTarget during the second quarter valued at about $239,000. The Manufacturers Life Insurance Company grew 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 in the last quarter. Cornercap Investment Counsel Inc. bought a new position in TechTarget in the 3rd quarter worth about $245,000. Intech Investment Management LLC bought a new stake in TechTarget during the third quarter valued at approximately $257,000. Finally, Quest Partners LLC bought a new position in shares of TechTarget during the 3rd quarter valued at about $272,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

About TechTarget

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.