TechTarget (NASDAQ:TTGT) Sets New 12-Month Low - Should You Sell?

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $18.26 and last traded at $18.42, with a volume of 4000 shares traded. The stock had previously closed at $18.46.

Analysts Set New Price Targets

A number of brokerages have issued reports on TTGT. Craig Hallum raised their target price on shares of TechTarget from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Needham & Company LLC restated a "buy" rating and set a $40.00 price objective on shares of TechTarget in a research note on Wednesday, November 13th. StockNews.com initiated coverage on TechTarget in a research note on Tuesday. They issued a "hold" rating on the stock. Finally, KeyCorp dropped their price objective on shares of TechTarget from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $38.17.

TechTarget Stock Up 2.3 %

The firm has a market cap of $552.25 million, a price-to-earnings ratio of -44.98, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04. The stock's 50 day moving average is $27.34 and its 200 day moving average is $27.85. 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 - Get Free Report) 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 for the quarter, compared to analysts' expectations 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 period in the previous year, the firm posted $0.13 EPS. Analysts forecast that TechTarget, Inc. will post 0.55 EPS for the current year.

Hedge Funds Weigh In On TechTarget

Several hedge funds have recently bought and sold shares of the business. Barclays PLC grew its stake 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 buying an additional 36,714 shares during the last quarter. Geode Capital Management LLC boosted its holdings in TechTarget by 0.3% during the third 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. M&T Bank Corp grew its position in shares of TechTarget by 54.0% in the third quarter. M&T Bank Corp now owns 32,523 shares of the information services provider's stock valued at $795,000 after purchasing an additional 11,398 shares during the last quarter. Jane Street Group LLC increased its stake in shares of TechTarget by 15.4% in the third quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider's stock worth $912,000 after purchasing an additional 4,988 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its position in shares of TechTarget by 31.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider's stock worth $6,780,000 after purchasing an additional 66,766 shares during the last quarter. 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.