TechTarget (NASDAQ:TTGT) Shares Down 5.5% – What’s Next?

TechTarget, Inc. (NASDAQ:TTGT)’s stock price fell 5.5% during mid-day trading on Friday . The stock traded as low as $25.30 and last traded at $25.30. 97,480 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 222,169 shares. The stock had previously closed at $26.76.

Analysts Set New Price Targets

Several research firms have recently weighed in on TTGT. Raymond James dropped their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Craig Hallum upped their target price on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. StockNews.com initiated coverage on shares of TechTarget in a research report on Thursday. They set a “hold” rating on the stock. KeyCorp cut their price target 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, Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of TechTarget in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, TechTarget currently has an average rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Stock Performance

The business has a 50 day moving average price of $28.30 and a two-hundred day moving average price of $28.77. The company has a market cap of $745.62 million, a P/E ratio of -63.71, a price-to-earnings-growth ratio of 14.28 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) last announced its quarterly earnings data 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 positive return on equity of 5.44% and a negative net margin of 5.34%. The business had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that TechTarget, Inc. will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On TechTarget

A number of institutional investors have recently added to or reduced their stakes in the stock. BOKF NA acquired a new position in shares of TechTarget in the 2nd quarter valued at about $239,000. Cornercap Investment Counsel Inc. acquired a new position in shares of TechTarget during the 3rd quarter valued at about $245,000. Intech Investment Management LLC purchased a new stake in shares of TechTarget in the 3rd quarter valued at approximately $257,000. Quest Partners LLC acquired a new position in TechTarget in the third quarter valued at approximately $272,000. Finally, SG Americas Securities LLC acquired a new stake in TechTarget during the third quarter worth $307,000. 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.