TechTarget (NASDAQ:TTGT) Shares Down 3.2% – Here’s What Happened

TechTarget, Inc. (NASDAQ:TTGT)’s share price was down 3.2% on Monday . The company traded as low as $29.07 and last traded at $29.07. Approximately 31,022 shares were traded during trading, a decline of 76% from the average daily volume of 128,222 shares. The stock had previously closed at $30.03.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TTGT shares. KeyCorp cut their price target on TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Needham & Company LLC lowered their target price on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Raymond James decreased their price objective on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Finally, Craig Hallum raised TechTarget from a “hold” rating to a “buy” rating and upped their target price for the company from $34.00 to $36.00 in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, TechTarget has a consensus rating of “Moderate Buy” and an average target price of $37.67.

TechTarget Trading Down 0.9 %

The stock has a 50-day moving average of $25.65 and a 200 day moving average of $28.43. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74. The stock has a market cap of $869.89 million, a PE ratio of -100.43, a price-to-earnings-growth ratio of 33.74 and a beta of 1.06.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Thursday, August 8th. The information services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. The business had revenue of $58.91 million for the quarter, compared to the consensus estimate of $58.08 million. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. As a group, sell-side analysts anticipate that TechTarget, Inc. will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On TechTarget

Hedge funds have recently bought and sold shares of the stock. 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 period. Texas Permanent School Fund Corp raised its position in shares of TechTarget by 2.1% in the first quarter. Texas Permanent School Fund Corp now owns 22,630 shares of the information services provider’s stock worth $749,000 after acquiring an additional 456 shares during the period. Inspire Investing LLC boosted its stake in shares of TechTarget by 4.3% during the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock worth $355,000 after acquiring an additional 469 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of TechTarget by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock valued at $381,000 after acquiring an additional 959 shares during the period. Finally, Swiss National Bank increased its stake in shares of TechTarget by 2.2% in the 1st quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock valued at $1,671,000 after purchasing an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors 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.