TechTarget (NASDAQ:TTGT) Trading Down 4.6% – Should You Sell?

TechTarget, Inc. (NASDAQ:TTGT)’s stock price fell 4.6% on Wednesday . The company traded as low as $31.23 and last traded at $31.38. 73,360 shares were traded during mid-day trading, a decline of 43% from the average session volume of 129,605 shares. The stock had previously closed at $32.88.

Analyst Ratings Changes

A number of research firms recently weighed in on TTGT. Craig Hallum upped their price objective on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KeyCorp cut 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 restated a “buy” rating and set a $40.00 price objective on shares of TechTarget in a report on Wednesday, November 13th. Finally, Raymond James cut their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, TechTarget has an average rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Stock Performance

The company’s fifty day moving average is $27.67 and its two-hundred day moving average is $28.81. 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 EPS for the quarter, topping 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 business had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. During the same quarter in the prior year, the firm posted $0.13 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, analysts forecast that TechTarget, Inc. will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On TechTarget

Hedge funds have recently bought and sold shares of the stock. BOKF NA purchased a new stake in TechTarget in the 2nd quarter worth approximately $239,000. Cornercap Investment Counsel Inc. purchased a new position in shares of TechTarget during the 3rd quarter valued at approximately $245,000. Intech Investment Management LLC purchased a new position in shares of TechTarget during the 3rd quarter valued at approximately $257,000. Quest Partners LLC purchased a new position in shares of TechTarget during the 3rd quarter valued at approximately $272,000. Finally, SG Americas Securities LLC purchased a new position in shares of TechTarget during the 3rd quarter valued at approximately $307,000. Hedge funds and other 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.