TechTarget (NASDAQ:TTGT) Reaches New 12-Month Low – Here’s What Happened

TechTarget, Inc. (NASDAQ:TTGT) reached a new 52-week low on Friday . The company traded as low as $19.53 and last traded at $19.59, with a volume of 706167 shares. The stock had previously closed at $20.34.

Analyst Ratings Changes

TTGT has been the subject of a number of recent analyst reports. StockNews.com assumed coverage on TechTarget in a report on Thursday, December 5th. They set a “hold” rating for the company. Craig Hallum increased their price target on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp cut their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TechTarget currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.17.

TechTarget Price Performance

The business has a 50-day simple moving average of $27.92 and a two-hundred day simple moving average of $28.19. The stock has a market capitalization of $571.54 million, a price-to-earnings ratio of -46.55, a P/E/G ratio of 12.04 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 posted its quarterly 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 business 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%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.13 earnings per share. As a group, research analysts predict that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Several hedge funds and other institutional investors have recently made changes to their positions in TTGT. BOKF NA bought a new position in TechTarget during the second quarter valued at about $239,000. The Manufacturers Life Insurance Company lifted its position 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 during the period. Cornercap Investment Counsel Inc. acquired a new stake in shares of TechTarget during the 3rd quarter valued at about $245,000. Intech Investment Management LLC acquired a new position in TechTarget in the third quarter worth about $257,000. Finally, Quest Partners LLC bought a new position in TechTarget during the third quarter worth about $272,000. 93.52% of the stock is owned by institutional investors and hedge funds.

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.