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

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

Analyst Ratings Changes

Several brokerages have recently issued reports on TTGT. Craig Hallum decreased their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. KeyCorp lowered their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Lake Street Capital reduced their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 30th. Raymond James lowered TechTarget from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, StockNews.com started coverage on TechTarget in a research report on Monday. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.14.

TechTarget Stock Up 0.8 %

The stock has a market capitalization 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 company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. The stock has a fifty day moving average price of $19.27 and a 200 day moving average price of $24.63.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate 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 business had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. During the same quarter last year, the company earned $0.13 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, research analysts forecast that TechTarget, Inc. will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On TechTarget

Several hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its stake in TechTarget by 152.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after purchasing an additional 96,896 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of 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 worth $12,545,000 after buying an additional 82,626 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of TechTarget by 21.3% in the fourth quarter. Impax Asset Management Group plc now owns 426,387 shares of the information services provider’s stock worth $8,451,000 after buying an additional 75,000 shares in the last quarter. Norges Bank bought a new stake in TechTarget during the fourth quarter valued at $1,364,000. Finally, ArrowMark Colorado Holdings LLC grew its position in TechTarget by 31.7% during the third 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 in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

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.