TechTarget (NASDAQ:TTGT) Stock Price Down 5.1% – Should You Sell?

TechTarget, Inc. (NASDAQ:TTGT) shares fell 5.1% on Friday . The company traded as low as $20.77 and last traded at $20.84. 78,307 shares were traded during trading, a decline of 69% from the average session volume of 254,563 shares. The stock had previously closed at $21.96.

Analyst Ratings Changes

TTGT has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of TechTarget in a research report on Wednesday, November 13th. Craig Hallum boosted 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 lowered their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Finally, StockNews.com started coverage on shares of TechTarget in a research note on Thursday, December 5th. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.17.

TechTarget Trading Down 1.1 %

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’s 50-day moving average is $28.21 and its 200-day moving average is $28.52.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results 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 business had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. During the same period in the prior year, the company posted $0.13 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. Sell-side analysts anticipate that TechTarget, Inc. will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On TechTarget

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

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.