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

TechTarget, Inc. (NASDAQ:TTGT) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $22.01 and last traded at $25.29, with a volume of 349941 shares traded. The stock had previously closed at $31.54.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TTGT shares. KeyCorp decreased their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of TechTarget in a research note on Wednesday, November 13th. Raymond James dropped their price target on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Craig Hallum lifted their price objective on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, StockNews.com started coverage on TechTarget in a research note on Wednesday, November 27th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.17.

TechTarget Stock Performance

The firm has a market cap of $739.48 million, a price-to-earnings ratio of -60.21, a price-to-earnings-growth ratio of 17.81 and a beta of 1.04. 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 stock has a fifty day moving average price of $28.22 and a 200 day moving average price of $28.81.

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 analysts’ consensus estimates of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The business had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. During the same period in the previous year, the company earned $0.13 earnings per share. TechTarget’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts predict that TechTarget, Inc. will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On TechTarget

Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in 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 purchasing an additional 430 shares during the period. Inspire Investing LLC boosted its position in shares of 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 acquiring an additional 469 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of TechTarget by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock worth $381,000 after acquiring an additional 959 shares during the last quarter. Geode Capital Management LLC increased its position 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 worth $14,955,000 after acquiring an additional 1,602 shares during the period. Finally, Sei Investments Co. raised its stake in TechTarget by 5.1% during the 2nd 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 last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

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.