TechTarget (NASDAQ:TTGT) Hits New 1-Year Low – What’s Next?

Shares of TechTarget, Inc. (NASDAQ:TTGT) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $16.34 and last traded at $17.13, with a volume of 18606 shares. The stock had previously closed at $17.52.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com assumed coverage on TechTarget in a report on Monday. They issued a “hold” rating on the stock. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research note on Wednesday, January 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 price target on shares of TechTarget in a research note on Tuesday, January 21st. Lake Street Capital cut their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, December 30th. Finally, Raymond James downgraded shares of TechTarget from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, TechTarget presently has an average rating of “Moderate Buy” and a consensus target price of $30.14.

TechTarget Stock Down 0.5 %

The firm’s fifty day moving average price is $19.71 and its 200-day moving average price is $24.84. The company has a market capitalization of $509.80 million, a price-to-earnings ratio of -41.57, a P/E/G ratio of 139.38 and a beta of 1.02. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. Sell-side analysts expect that TechTarget, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of TechTarget

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its position in shares of TechTarget by 399.1% in the 3rd 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 shares of TechTarget in the 3rd quarter valued at $526,000. Impax Asset Management Group plc lifted its position in shares of TechTarget by 24.9% during the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 70,000 shares during the period. Harbor Capital Advisors Inc. boosted its stake in TechTarget by 152.7% during the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after acquiring an additional 96,896 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in TechTarget by 0.3% in the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock worth $14,955,000 after purchasing an additional 1,602 shares during the period. 93.52% of the stock is currently 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.