TechTarget (NASDAQ:TTGT) Stock Price Down 4.6% – Should You Sell?

Shares of TechTarget, Inc. (NASDAQ:TTGT) were down 4.6% during trading on Wednesday . The stock traded as low as $31.23 and last traded at $31.38. Approximately 73,360 shares changed hands during trading, a decline of 43% from the average daily volume of 129,605 shares. The stock had previously closed at $32.88.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TTGT shares. Raymond James lowered their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research report on Wednesday, November 13th. Craig Hallum increased their price objective 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. KeyCorp lowered their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Finally, StockNews.com assumed coverage on shares of TechTarget in a report on Wednesday. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, TechTarget has an average rating of “Moderate Buy” and a consensus price target of $38.17.

TechTarget Price Performance

The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The business’s 50 day moving average is $27.91 and its 200 day moving average is $28.84.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. The company 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 quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. As a group, research analysts expect that TechTarget, Inc. will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On TechTarget

Several large investors have recently added to or reduced their stakes in TTGT. Price T Rowe Associates Inc. MD boosted its position in TechTarget by 9.1% in 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 buying an additional 959 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of TechTarget by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 63,474 shares of the information services provider’s stock valued at $1,978,000 after purchasing an additional 46,475 shares in the last quarter. Riverwater Partners LLC bought a new stake in shares of TechTarget in the 2nd quarter valued at about $350,000. Texas Permanent School Fund Corp raised its holdings in shares of TechTarget by 10.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock valued at $776,000 after purchasing an additional 2,254 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its holdings in shares of TechTarget by 21.2% in the 2nd quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock valued at $7,560,000 after purchasing an additional 42,374 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

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.