TechTarget (NASDAQ:TTGT) Reaches New 52-Week Low – Here’s Why

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

Analyst Ratings Changes

TTGT has been the subject of several analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 target price on shares of TechTarget in a report on Tuesday, January 21st. 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. KeyCorp lowered their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of TechTarget in a research report on Wednesday, January 15th. Finally, Craig Hallum lowered their price target on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

TechTarget Trading Down 2.3 %

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 business’s 50 day simple moving average is $22.00 and its 200 day simple moving average is $25.70. The stock has a market cap of $507.61 million, a price-to-earnings ratio of -41.33, a PEG ratio of 9.95 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. During the same quarter in the prior year, the firm posted $0.13 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts expect that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC grew its position in TechTarget by 399.1% in the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock valued at $1,123,000 after purchasing an additional 36,714 shares during the period. LMR Partners LLP purchased a new stake in shares of TechTarget during the 3rd quarter valued at $526,000. Impax Asset Management Group plc raised its stake in shares of TechTarget by 24.9% during the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 70,000 shares during the period. Harbor Capital Advisors Inc. raised its position in TechTarget by 152.7% in the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after acquiring an additional 96,896 shares during the period. Finally, Geode Capital Management LLC grew 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 valued at $14,955,000 after acquiring an additional 1,602 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.