TechTarget (NASDAQ:TTGT) Stock Price Down 5.5% – Time to Sell?

TechTarget, Inc. (NASDAQ:TTGT) dropped 5.5% during trading on Friday . The stock traded as low as $25.30 and last traded at $25.30. Approximately 97,480 shares changed hands during trading, a decline of 56% from the average daily volume of 222,169 shares. The stock had previously closed at $26.76.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. KeyCorp cut their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research report on Wednesday, November 13th. StockNews.com initiated coverage on shares of TechTarget in a research note on Thursday. They issued a “hold” rating on the stock. Craig Hallum raised their price objective on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Raymond James dropped their price objective on TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Price Performance

The company has a market capitalization of $745.62 million, a price-to-earnings ratio of -63.71, a PEG ratio of 14.28 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 company’s 50 day simple moving average is $28.30 and its 200-day simple moving average is $28.77.

TechTarget (NASDAQ:TTGT) last released its earnings results on Tuesday, November 12th. The information services provider reported $0.42 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 positive return on equity of 5.44% and a negative net margin of 5.34%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. On average, equities research analysts predict that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Earnest Partners LLC raised its stake in shares of TechTarget by 6.3% during the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after purchasing an additional 29,375 shares during the period. LMR Partners LLP purchased a new stake in TechTarget during the 3rd quarter worth approximately $526,000. Impax Asset Management Group plc grew its position in shares of TechTarget by 24.9% during the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock worth $8,591,000 after buying an additional 70,000 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of 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, Rockefeller Capital Management L.P. raised its holdings in TechTarget by 19.2% in the third quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock valued at $12,545,000 after acquiring an additional 82,626 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

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.