TechTarget (NASDAQ:TTGT) Hits New 52-Week Low – Here’s Why

TechTarget, Inc. (NASDAQ:TTGT)’s stock price reached a new 52-week low during 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on TTGT shares. Craig Hallum cut their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. KeyCorp reduced their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Lake Street Capital lowered their target price on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of TechTarget in a report on Wednesday. Finally, StockNews.com assumed coverage on shares of TechTarget in a report on Friday. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.00.

TechTarget Price Performance

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 firm’s 50-day moving average price is $23.80 and its 200 day moving average price is $26.41.

TechTarget (NASDAQ:TTGT) last posted 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. The firm had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. TechTarget’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. Equities research analysts predict that TechTarget, Inc. will post 0.55 EPS for the current year.

Institutional Trading of TechTarget

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of TechTarget by 2.5% in the third quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after purchasing an additional 60,191 shares in the last quarter. Dimensional Fund Advisors LP grew its position in TechTarget by 1.1% in the 2nd 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 in the last quarter. Geode Capital Management LLC increased its stake in TechTarget by 0.3% during the 3rd 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 period. Rockefeller Capital Management L.P. raised its position in shares of TechTarget by 19.2% during the 3rd 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 lifted its stake in shares of TechTarget by 6.3% in the 2nd 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 period. 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.