TechTarget (NASDAQ:TTGT) Hits New 52-Week Low – Should You Sell?

Shares of TechTarget, Inc. (NASDAQ:TTGT) reached a new 52-week low on Wednesday . The company traded as low as $22.01 and last traded at $25.29, with a volume of 349941 shares. The stock had previously closed at $31.54.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. KeyCorp lowered their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Raymond James cut their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Craig Hallum lifted their price target 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 reissued a “buy” rating and issued a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. Finally, StockNews.com assumed coverage on shares of TechTarget in a report on Wednesday, November 27th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Stock Performance

The company has a market capitalization of $739.48 million, a P/E ratio of -60.21, a PEG ratio of 17.81 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. The stock has a fifty day simple moving average of $28.22 and a 200-day simple moving average of $28.81.

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 company had revenue of $58.47 million during the quarter, compared to analyst estimates 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 last year, the business posted $0.13 earnings per share. Equities analysts forecast that TechTarget, Inc. will post 0.55 EPS for the current year.

Institutional Investors Weigh In On TechTarget

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased 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 valued at $60,042,000 after buying an additional 60,191 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 acquiring an additional 8,681 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 worth $14,955,000 after acquiring an additional 1,602 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in TechTarget by 19.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock valued at $12,545,000 after acquiring an additional 82,626 shares in the last quarter. Finally, Earnest Partners LLC lifted 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 purchasing an additional 29,375 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

TechTarget Company Profile

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.