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

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on TTGT shares. KeyCorp decreased their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. StockNews.com started coverage on shares of TechTarget in a report on Thursday, December 5th. They issued a “hold” rating for the company. Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of TechTarget in a research note on Wednesday, November 13th. Finally, Craig Hallum lifted their price objective on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.17.

TechTarget Price Performance

The company’s 50-day simple moving average is $27.83 and its 200 day simple moving average is $28.10. The company has a market cap of $571.54 million, a PE ratio of -46.55, a PEG ratio of 12.04 and a beta of 1.04. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49.

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 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 analyst estimates of $58.14 million. During the same period last year, the business posted $0.13 earnings per share. TechTarget’s revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of TechTarget

A number of large investors have recently made changes to their positions in TTGT. Barclays PLC grew its holdings in TechTarget by 399.1% during the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after acquiring an additional 36,714 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of 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 purchasing an additional 1,602 shares in the last quarter. M&T Bank Corp increased its holdings in TechTarget by 54.0% in the third quarter. M&T Bank Corp now owns 32,523 shares of the information services provider’s stock valued at $795,000 after buying an additional 11,398 shares during the last quarter. Jane Street Group LLC raised its stake in TechTarget by 15.4% in the third quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider’s stock valued at $912,000 after buying an additional 4,988 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in TechTarget by 31.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock worth $6,780,000 after buying an additional 66,766 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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.