TechTarget (NASDAQ:TTGT) Trading Down 2.3% - What's Next?

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) shares were down 2.3% on Tuesday . The company traded as low as $18.74 and last traded at $18.82. Approximately 64,526 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 343,540 shares. The stock had previously closed at $19.26.

Analysts Set New Price Targets

TTGT has been the subject of several research analyst reports. Needham & Company LLC restated a "buy" rating and set a $40.00 price target on shares of TechTarget in a research note on Wednesday, November 13th. StockNews.com began coverage on TechTarget in a report on Tuesday. They set a "hold" rating for the company. Craig Hallum increased their price target on TechTarget from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Finally, KeyCorp lowered their price objective on TechTarget from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.17.

TechTarget Trading Down 4.2 %

The firm has a 50 day simple moving average of $27.71 and a 200 day simple moving average of $28.00. The firm has a market cap of $539.68 million, a P/E ratio of -43.95, a P/E/G ratio of 12.04 and a beta of 1.04. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49.

TechTarget (NASDAQ:TTGT - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 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 during the quarter, compared to analyst estimates of $58.14 million. During the same period last year, the business earned $0.13 earnings per share. TechTarget's revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts predict that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On TechTarget

A number of institutional investors and hedge funds have recently made changes to their positions in TTGT. Barclays PLC increased 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 worth $1,123,000 after acquiring an additional 36,714 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 1,602 shares during the last quarter. M&T Bank Corp increased 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 worth $795,000 after purchasing an additional 11,398 shares during the last quarter. Jane Street Group LLC raised its stake in TechTarget by 15.4% in the third quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider's stock valued at $912,000 after purchasing an additional 4,988 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its position in TechTarget by 31.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider's stock valued at $6,780,000 after purchasing an additional 66,766 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.