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

TechTarget, Inc. (NASDAQ:TTGT)’s share price hit a new 52-week low 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.

Analyst Ratings Changes

TTGT has been the topic of several research reports. KeyCorp dropped their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research report on Wednesday, November 13th. Craig Hallum boosted their price target on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Lake Street Capital reduced their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Finally, StockNews.com started coverage on TechTarget in a research report on Thursday. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, TechTarget currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.14.

TechTarget Stock Down 2.2 %

The firm has a market cap of $535.88 million, a price-to-earnings ratio of -43.64, a PEG ratio of 12.04 and a beta of 1.04. 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 business’s 50-day moving average is $25.16 and its 200-day moving average is $26.98.

TechTarget (NASDAQ:TTGT) last announced its earnings results 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 the consensus estimate of $58.14 million. During the same period in the previous year, the business earned $0.13 EPS. TechTarget’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts predict that TechTarget, Inc. will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp lifted its stake in TechTarget by 10.0% in the second quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock valued at $776,000 after buying an additional 2,254 shares during the period. American Century Companies Inc. increased its stake in shares of TechTarget by 14.4% in the 2nd quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider’s stock valued at $1,078,000 after acquiring an additional 4,352 shares during the last quarter. BOKF NA acquired a new stake in shares of TechTarget in the 2nd quarter valued at approximately $239,000. Envestnet Asset Management Inc. boosted its stake in TechTarget by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock worth $9,974,000 after acquiring an additional 8,212 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in TechTarget by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock valued at $24,717,000 after purchasing an additional 8,681 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.