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

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

Analyst Upgrades and Downgrades

TTGT has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research note on Wednesday, November 13th. StockNews.com began coverage on TechTarget in a research report on Thursday. They set a “hold” rating for the company. Lake Street Capital lowered their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Craig Hallum raised their target price on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, KeyCorp lowered their price target 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.14.

TechTarget Stock Performance

The company has a market cap of $533.54 million, a P/E ratio of -43.45, a PEG 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. The company has a 50 day moving average price of $24.95 and a 200-day moving average price of $26.87.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The firm had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. During the same quarter in the prior year, the firm posted $0.13 EPS. TechTarget’s revenue was up 2.4% compared to the same quarter last year. Equities analysts expect that TechTarget, Inc. will post 0.55 EPS 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 stake in TechTarget by 10.0% during 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 buying an additional 2,254 shares in the last quarter. American Century Companies Inc. lifted its holdings in TechTarget by 14.4% in the 2nd quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider’s stock valued at $1,078,000 after acquiring an additional 4,352 shares during the last quarter. BOKF NA bought a new position in shares of TechTarget during the 2nd quarter valued at about $239,000. Envestnet Asset Management Inc. grew its stake in shares of TechTarget by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock worth $9,974,000 after purchasing an additional 8,212 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of TechTarget by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock worth $24,717,000 after purchasing an additional 8,681 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

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.