TechTarget (NASDAQ:TTGT) Reaches New 52-Week Low – What’s Next?

TechTarget, Inc. (NASDAQ:TTGT) hit a new 52-week low during trading on Tuesday . The stock traded as low as $17.15 and last traded at $17.30, with a volume of 128457 shares traded. The stock had previously closed at $17.77.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TTGT shares. Craig Hallum dropped their target price 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 started coverage on TechTarget in a research report on Saturday, January 25th. They set a “hold” rating on the stock. KeyCorp decreased their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price target on shares of TechTarget in a research report on Tuesday, January 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

TechTarget Price Performance

The firm has a fifty day moving average price of $21.74 and a two-hundred day moving average price of $25.64. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $508.48 million, a P/E ratio of -41.40, a P/E/G ratio of 9.95 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The firm had revenue of $58.47 million for 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 business’s revenue was up 2.4% on a year-over-year basis. On average, analysts expect that TechTarget, Inc. will post 0.55 EPS for the current year.

Hedge Funds Weigh In On TechTarget

A number of hedge funds have recently bought and sold shares of TTGT. KBC Group NV grew its stake in shares of TechTarget by 79.1% during the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 962 shares during the period. MeadowBrook Investment Advisors LLC increased its position in TechTarget by 26.4% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider’s stock worth $169,000 after buying an additional 1,780 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of TechTarget by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after buying an additional 430 shares during the period. Cornercap Investment Counsel Inc. purchased a new position in shares of TechTarget during the 3rd quarter valued at about $245,000. Finally, Intech Investment Management LLC bought a new position in shares of TechTarget during the 3rd quarter valued at approximately $257,000. Hedge funds and other institutional investors 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.