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

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

Analyst Ratings Changes

TTGT has been the topic of a number of recent analyst reports. Raymond James decreased their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Craig Hallum increased their price objective on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp reduced their price objective on 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 reissued a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, TechTarget has an average rating of “Moderate Buy” and a consensus target price of $38.17.

TechTarget Price Performance

The business has a 50 day simple moving average of $27.67 and a 200-day simple moving average of $28.81. 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 issued its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.13 EPS. On average, sell-side analysts forecast that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Trading of TechTarget

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC increased its position in shares of TechTarget by 399.1% during the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after purchasing an additional 36,714 shares during the last quarter. Geode Capital Management LLC increased its position in shares of TechTarget by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock worth $14,955,000 after purchasing an additional 1,602 shares during the last quarter. M&T Bank Corp boosted its holdings in TechTarget by 54.0% during the 3rd quarter. M&T Bank Corp now owns 32,523 shares of the information services provider’s stock valued at $795,000 after acquiring an additional 11,398 shares during the period. Jane Street Group LLC boosted its holdings in TechTarget by 15.4% during the 3rd quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider’s stock valued at $912,000 after acquiring an additional 4,988 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in TechTarget by 31.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock valued at $6,780,000 after acquiring an additional 66,766 shares during the period. 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.