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

TechTarget, Inc. (NASDAQ:TTGT) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $16.34 and last traded at $17.13, with a volume of 18606 shares. The stock had previously closed at $17.52.

Analysts Set New Price Targets

TTGT has been the subject of a number of recent research reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.00 target price on shares of TechTarget in a research note on Tuesday, January 21st. KeyCorp decreased their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Raymond James lowered TechTarget from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Craig Hallum cut their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, StockNews.com assumed coverage on TechTarget in a report on Monday. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, TechTarget presently has a consensus rating of “Moderate Buy” and an average price target of $30.14.

TechTarget Price Performance

The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The stock has a market cap of $502.34 million, a P/E ratio of -40.90, a price-to-earnings-growth ratio of 139.38 and a beta of 1.02. The firm has a 50-day moving average price of $19.27 and a 200-day moving average price of $24.63.

TechTarget (NASDAQ:TTGT) last released its 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 firm 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 business’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $0.13 earnings per share. On average, analysts forecast that TechTarget, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TTGT. Barclays PLC increased its holdings in shares of TechTarget by 399.1% during the third quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock valued at $1,123,000 after acquiring an additional 36,714 shares in the last quarter. LMR Partners LLP purchased a new stake in TechTarget during the 3rd quarter valued at about $526,000. Impax Asset Management Group plc increased its stake in TechTarget by 24.9% during the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 70,000 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in TechTarget by 152.7% in the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after buying an additional 96,896 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of TechTarget by 0.3% in the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock worth $14,955,000 after buying an additional 1,602 shares in 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.