TechTarget (NASDAQ:TTGT) Hits New 1-Year Low – Time to Sell?

TechTarget, Inc. (NASDAQ:TTGT) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.94 and last traded at $22.18, with a volume of 29860 shares. The stock had previously closed at $22.28.

Wall Street Analysts Forecast Growth

TTGT has been the topic of a number of research reports. KeyCorp dropped their target price 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. Craig Hallum boosted their price objective on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of TechTarget in a research note on Wednesday, November 13th. Finally, StockNews.com began coverage on TechTarget in a research report on Thursday, December 5th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.17.

TechTarget Trading Down 2.9 %

The stock’s fifty day simple moving average is $28.21 and its 200 day simple moving average is $28.52. The firm has a market capitalization of $623.69 million, a PE ratio of -50.79, a PEG ratio of 12.58 and a beta of 1.04. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) 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 business had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. TechTarget’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts predict that TechTarget, Inc. will post 0.55 earnings per share for the current year.

Institutional Trading of TechTarget

Several institutional investors and hedge funds have recently modified their holdings of TTGT. FMR LLC increased its stake in TechTarget by 2.5% in the 3rd quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after buying an additional 60,191 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of TechTarget by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock valued at $24,717,000 after buying an additional 8,681 shares during the last quarter. Geode Capital Management LLC raised its position 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 valued at $14,955,000 after buying an additional 1,602 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings 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. Finally, Earnest Partners LLC boosted its position 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 worth $15,451,000 after acquiring an additional 29,375 shares during the last quarter. 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.