TechTarget (NASDAQ:TTGT) Hits New 1-Year Low - What's Next?

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $22.01 and last traded at $25.29, with a volume of 349941 shares trading hands. The stock had previously closed at $31.54.

Analyst Upgrades and Downgrades

TTGT has been the topic of a number of recent analyst reports. Craig Hallum boosted their price target on shares of TechTarget from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a "buy" rating and set a $40.00 target price on shares of TechTarget in a research report on Wednesday, November 13th. Raymond James reduced their target price on shares of TechTarget from $39.00 to $34.00 and set an "outperform" rating on the stock in a research report on Monday, August 12th. KeyCorp reduced their target price on shares of TechTarget from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Thursday, November 14th. Finally, StockNews.com started coverage on shares of TechTarget in a research report on Wednesday, November 27th. They set a "hold" rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $38.17.

TechTarget Stock Down 3.2 %

The company's 50 day simple moving average is $28.22 and its 200 day simple moving average is $28.81. 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 announced its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The business had revenue of $58.47 million during the quarter, compared to analysts' expectations of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The firm's revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 earnings per share. On average, research analysts anticipate that TechTarget, Inc. will post 0.55 EPS for the current year.

Institutional Trading of TechTarget

A number of hedge funds have recently modified their holdings of TTGT. BOKF NA acquired a new stake in shares of TechTarget during the 2nd quarter worth about $239,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of TechTarget during the 3rd quarter worth about $245,000. Intech Investment Management LLC acquired a new stake in shares of TechTarget during the 3rd quarter worth about $257,000. Quest Partners LLC acquired a new stake in shares of TechTarget during the 3rd quarter worth about $272,000. Finally, SG Americas Securities LLC acquired a new stake in shares of TechTarget during the 3rd quarter worth about $307,000. Institutional investors and hedge funds 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.