TechTarget (NASDAQ:TTGT) Reaches New 12-Month Low - Here's What Happened

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report)'s stock price hit a new 52-week low on Friday . The stock traded as low as $18.24 and last traded at $18.36, with a volume of 5186 shares changing hands. The stock had previously closed at $18.74.

Analyst Ratings Changes

A number of analysts have recently issued reports on TTGT shares. StockNews.com initiated coverage on shares of TechTarget in a research note on Thursday. They issued a "hold" rating for the company. KeyCorp cut their price target on TechTarget from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. Needham & Company LLC restated a "buy" rating and issued a $40.00 price objective on shares of TechTarget in a research report on Wednesday, November 13th. Craig Hallum increased their target price on TechTarget from $36.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, Lake Street Capital lowered their price target on TechTarget from $36.00 to $24.00 and set a "buy" rating on the stock in a report on Monday, December 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.14.

TechTarget Stock Down 2.6 %

The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The firm has a market capitalization of $533.54 million, a PE ratio of -43.45, a PEG ratio of 12.04 and a beta of 1.04. The company has a fifty day moving average price of $25.16 and a 200-day moving average price of $26.98.

TechTarget (NASDAQ:TTGT - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $58.14 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. TechTarget's revenue was up 2.4% on a year-over-year basis. As a group, analysts expect that TechTarget, Inc. will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On TechTarget

Several large investors have recently added to or reduced their stakes in TTGT. The Manufacturers Life Insurance Company lifted its stake 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 purchasing an additional 430 shares during the last quarter. Inspire Investing LLC raised its holdings in TechTarget by 4.3% during the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider's stock valued at $355,000 after buying an additional 469 shares during the period. Geode Capital Management LLC lifted its position in TechTarget by 0.3% in the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider's stock worth $14,955,000 after buying an additional 1,602 shares during the last quarter. Sei Investments Co. boosted its stake in TechTarget by 5.1% during the second quarter. Sei Investments Co. now owns 34,543 shares of the information services provider's stock worth $1,077,000 after buying an additional 1,690 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in TechTarget by 10.0% during the second quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider's stock valued at $776,000 after acquiring an additional 2,254 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

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.