TechTarget (NASDAQ:TTGT) Sets New 52-Week Low – What’s Next?

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. KeyCorp decreased their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of TechTarget in a research report on Wednesday, November 13th. StockNews.com began coverage on shares of TechTarget in a research report on Thursday. They issued a “hold” rating on the stock. Craig Hallum increased their target price on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Lake Street Capital dropped their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.14.

TechTarget Trading Down 2.6 %

The firm has a fifty day moving average of $24.95 and a 200-day moving average of $26.87. 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 has a market capitalization of $533.54 million, a price-to-earnings ratio of -43.45, a P/E/G ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 positive return on equity of 5.44% and a negative net margin of 5.34%. TechTarget’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. As a group, equities analysts predict that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Several institutional investors and hedge funds have recently made changes to their positions in the business. BOKF NA bought a new stake in TechTarget in the second quarter valued at about $239,000. Cornercap Investment Counsel Inc. bought a new stake in shares of TechTarget in the 3rd quarter valued at approximately $245,000. Intech Investment Management LLC bought a new stake in shares of TechTarget in the 3rd quarter valued at approximately $257,000. Quest Partners LLC acquired a new stake in shares of TechTarget during the 3rd quarter valued at approximately $272,000. Finally, SG Americas Securities LLC bought a new position in TechTarget during the third quarter worth $307,000. 93.52% of the stock is currently owned by hedge funds and other 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.