TechTarget (NASDAQ:TTGT) Sets New 1-Year Low – Should You Sell?

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TTGT shares. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a research report on Wednesday, January 15th. Lake Street Capital cut their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. StockNews.com initiated coverage on shares of TechTarget in a research note on Saturday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price target on shares of TechTarget in a research report on Tuesday, January 21st. Finally, KeyCorp lowered their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, TechTarget has a consensus rating of “Moderate Buy” and an average target price of $32.00.

TechTarget Trading Down 2.3 %

The stock has a market capitalization of $507.61 million, a P/E ratio of -41.33, a price-to-earnings-growth ratio of 9.95 and a beta of 1.04. The stock’s fifty day moving average price is $22.00 and its two-hundred day moving average price is $25.70. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. KBC Group NV increased its stake in TechTarget by 79.1% in the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock worth $43,000 after buying an additional 962 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in TechTarget by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after purchasing an additional 430 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in TechTarget in the third quarter valued at about $245,000. Intech Investment Management LLC acquired a new position in shares of TechTarget in the 3rd quarter valued at $257,000. Finally, Quest Partners LLC acquired a new stake in shares of TechTarget in the third quarter worth $272,000. 93.52% of the stock is currently owned by 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.