TechTarget (NASDAQ:TTGT) Reaches New 1-Year Low – Here’s Why

Shares of TechTarget, Inc. (NASDAQ:TTGT) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $17.15 and last traded at $17.30, with a volume of 128457 shares. The stock had previously closed at $17.77.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research report on Wednesday, January 15th. Lake Street Capital decreased their target price on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, December 30th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 price target on shares of TechTarget in a research note on Tuesday, January 21st. StockNews.com started coverage on shares of TechTarget in a research report on Saturday, January 25th. They set a “hold” rating on the stock. Finally, Craig Hallum lowered their target price on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.00.

TechTarget Stock Up 1.6 %

The business’s 50 day simple moving average is $21.74 and its 200 day simple moving average is $25.64. 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 $508.48 million, a PE ratio of -41.40, a PEG ratio of 9.95 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping 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 firm had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. During the same quarter in the previous year, the business earned $0.13 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that TechTarget, Inc. will post 0.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in shares of TechTarget by 2.7% during the 4th quarter. Rhumbline Advisers now owns 74,980 shares of the information services provider’s stock worth $1,486,000 after purchasing an additional 1,994 shares during the period. MeadowBrook Investment Advisors LLC lifted its stake in TechTarget by 26.4% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider’s stock worth $169,000 after purchasing an additional 1,780 shares during the last quarter. KBC Group NV boosted its position in shares of TechTarget by 79.1% during the fourth quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock valued at $43,000 after buying an additional 962 shares during the period. Barclays PLC grew its stake 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 buying an additional 36,714 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings 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 during the period. 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.