TechTarget (NASDAQ:TTGT) Sets New 12-Month Low – Should You Sell?

TechTarget, Inc. (NASDAQ:TTGT)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $17.21 and last traded at $17.28, with a volume of 58531 shares changing hands. The stock had previously closed at $17.89.

Wall Street Analysts Forecast Growth

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

TechTarget Stock Down 3.5 %

The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The stock’s fifty day simple moving average is $24.04 and its two-hundred day simple moving average is $26.53. The stock has a market capitalization of $504.83 million, a P/E ratio of -41.11, a price-to-earnings-growth ratio of 9.11 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last issued 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 for 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 revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 earnings per share. As a group, research analysts expect that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On TechTarget

A number of hedge funds have recently bought and sold shares of TTGT. Earnest Partners LLC grew its holdings in TechTarget by 6.3% during 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. Barclays PLC grew its stake in TechTarget by 399.1% during the third quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after purchasing an additional 36,714 shares during the period. LMR Partners LLP bought a new stake in TechTarget in the third quarter worth approximately $526,000. Impax Asset Management Group plc lifted its stake in TechTarget by 24.9% in the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after buying an additional 70,000 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in TechTarget by 152.7% in the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock valued at $3,921,000 after buying an additional 96,896 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.