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

TechTarget, Inc. (NASDAQ:TTGT) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $18.26 and last traded at $18.42, with a volume of 4000 shares changing hands. The stock had previously closed at $18.46.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com initiated coverage on shares of TechTarget in a report on Tuesday. They issued a “hold” rating on the stock. 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. Craig Hallum raised their price target on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, KeyCorp decreased 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Stock Performance

The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The company has a market cap of $569.50 million, a price-to-earnings ratio of -46.38, a P/E/G ratio of 12.04 and a beta of 1.04. The stock has a 50 day moving average price of $26.97 and a two-hundred day moving average price of $27.71.

TechTarget (NASDAQ:TTGT) last released its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05. The firm had revenue of $58.47 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Analysts predict that TechTarget, Inc. will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TTGT. BOKF NA bought a new stake in TechTarget in the second quarter valued at approximately $239,000. The Manufacturers Life Insurance Company grew its holdings in shares of TechTarget by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after buying an additional 430 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in shares of TechTarget in the 3rd quarter valued at $245,000. Intech Investment Management LLC acquired a new stake in TechTarget during the 3rd quarter worth $257,000. Finally, Quest Partners LLC bought a new position in TechTarget during the third quarter worth about $272,000. 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.