TechTarget (NASDAQ:TTGT) Trading Down 3.2% – What’s Next?

TechTarget, Inc. (NASDAQ:TTGT) shares traded down 3.2% during trading on Monday . The stock traded as low as $29.07 and last traded at $29.07. 31,022 shares changed hands during trading, a decline of 76% from the average session volume of 128,222 shares. The stock had previously closed at $30.03.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TTGT. Craig Hallum upgraded TechTarget from a “hold” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $36.00 in a research note on Tuesday, October 15th. Needham & Company LLC lowered their price target on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, September 16th. Raymond James decreased their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Finally, KeyCorp dropped their target price on TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.67.

TechTarget Stock Performance

The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 1.74. The firm’s fifty day moving average price is $25.78 and its 200-day moving average price is $28.45. The firm has a market cap of $869.89 million, a price-to-earnings ratio of -102.67, a PEG ratio of 33.74 and a beta of 1.06.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Thursday, August 8th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. The company had revenue of $58.91 million during the quarter, compared to the consensus estimate of $58.08 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. TechTarget’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that TechTarget, Inc. will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On TechTarget

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Earnest Partners LLC increased its holdings in shares of TechTarget by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after acquiring an additional 29,375 shares during the period. Illinois Municipal Retirement Fund acquired a new position in TechTarget in the first quarter valued at $501,000. Sei Investments Co. raised its holdings in shares of TechTarget by 4.6% in the first quarter. Sei Investments Co. now owns 32,853 shares of the information services provider’s stock valued at $1,087,000 after buying an additional 1,432 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of TechTarget by 21.2% during the second quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock worth $7,560,000 after buying an additional 42,374 shares during the period. Finally, Swiss National Bank grew its holdings in shares of TechTarget by 2.2% during the first quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock worth $1,671,000 after buying an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

About TechTarget

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.