TechTarget (NASDAQ:TTGT) Hits New 52-Week Low – Here’s Why

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

Wall Street Analysts Forecast Growth

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

TechTarget Trading Down 2.8 %

The firm’s 50-day moving average price is $23.80 and its two-hundred day moving average price is $26.41. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65.

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 firm 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%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. On average, equities research analysts predict that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Texas Permanent School Fund Corp grew its stake in TechTarget by 10.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock valued at $776,000 after acquiring an additional 2,254 shares in the last quarter. American Century Companies Inc. grew its position in TechTarget by 14.4% during the second quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider’s stock valued at $1,078,000 after purchasing an additional 4,352 shares in the last quarter. Envestnet Asset Management Inc. grew its position in TechTarget by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock valued at $9,974,000 after purchasing an additional 8,212 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in TechTarget by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock valued at $24,717,000 after buying an additional 8,681 shares during the period. Finally, Inspire Investing LLC lifted its position in TechTarget by 4.3% in the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock worth $355,000 after buying an additional 469 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.