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

TechTarget, Inc. (NASDAQ:TTGT) hit a new 52-week low during trading on Friday . The stock traded as low as $18.24 and last traded at $18.36, with a volume of 5186 shares trading hands. The stock had previously closed at $18.74.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TTGT shares. Craig Hallum boosted their price target on 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 reissued a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research note on Wednesday, November 13th. KeyCorp cut their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Lake Street Capital lowered 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. Finally, StockNews.com initiated coverage on TechTarget in a research note on Thursday. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.14.

TechTarget Price Performance

The company’s 50 day moving average price is $25.16 and its 200-day moving average price is $26.98. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $535.88 million, a PE ratio of -43.64, a PEG ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The firm had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. On average, sell-side analysts forecast that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp boosted its holdings 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 valued at $776,000 after purchasing an additional 2,254 shares during the last quarter. American Century Companies Inc. raised its position in shares of TechTarget by 14.4% during the 2nd quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider’s stock worth $1,078,000 after purchasing an additional 4,352 shares during the period. BOKF NA bought a new stake in shares of TechTarget in the 2nd quarter worth approximately $239,000. Envestnet Asset Management Inc. boosted its position in TechTarget by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock valued at $9,974,000 after purchasing an additional 8,212 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in TechTarget by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock worth $24,717,000 after buying an additional 8,681 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other 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.