TechTarget (NASDAQ:TTGT) Sets New 52-Week Low – Time to Sell?

TechTarget, Inc. (NASDAQ:TTGT) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $17.21 and last traded at $17.28, with a volume of 58531 shares traded. The stock had previously closed at $17.89.

Analyst Upgrades and Downgrades

TTGT has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of TechTarget in a research note on Friday. They set a “hold” rating for the company. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of TechTarget in a research report on Wednesday. Lake Street Capital dropped their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, December 30th. Craig Hallum decreased their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday. Finally, KeyCorp dropped their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

TechTarget Price Performance

The stock has a market cap of $504.83 million, a PE ratio of -41.11, a P/E/G ratio of 9.11 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. The business has a 50 day moving average price of $24.04 and a two-hundred day moving average price of $26.53.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.05. The business had revenue of $58.47 million for the quarter, compared to analysts’ expectations 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 revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Research analysts expect that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Several institutional investors have recently added to or reduced their stakes in TTGT. The Manufacturers Life Insurance Company boosted its stake 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 valued at $311,000 after acquiring an additional 430 shares during the last quarter. Inspire Investing LLC raised its holdings in shares of TechTarget by 4.3% in the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock worth $355,000 after purchasing an additional 469 shares during the period. Geode Capital Management LLC lifted its stake in TechTarget by 0.3% in the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after purchasing an additional 1,602 shares during the last quarter. Sei Investments Co. grew its holdings in TechTarget by 5.1% during the second quarter. Sei Investments Co. now owns 34,543 shares of the information services provider’s stock valued at $1,077,000 after purchasing an additional 1,690 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in TechTarget by 10.0% in the second quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock worth $776,000 after buying an additional 2,254 shares during the last quarter. 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.