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

TechTarget, Inc. (NASDAQ:TTGT)’s stock price was 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 were traded during mid-day trading, a decline of 43% from the average daily volume of 129,605 shares. The stock had previously closed at $32.88.

Analysts Set New Price Targets

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

TechTarget Trading Down 5.1 %

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

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results 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 negative net margin of 5.34% and a positive return on equity of 5.44%. The business had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. During the same quarter in the prior year, the business posted $0.13 EPS. TechTarget’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts forecast that TechTarget, Inc. will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its stake in TechTarget by 399.1% during the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock valued at $1,123,000 after purchasing an additional 36,714 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of TechTarget by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after acquiring an additional 1,602 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of TechTarget by 54.0% in the 3rd quarter. M&T Bank Corp now owns 32,523 shares of the information services provider’s stock valued at $795,000 after acquiring an additional 11,398 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of TechTarget by 15.4% in the 3rd quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider’s stock valued at $912,000 after acquiring an additional 4,988 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in shares of TechTarget by 31.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock valued at $6,780,000 after acquiring an additional 66,766 shares during the last quarter. Institutional investors and hedge funds 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.