TechTarget (NASDAQ:TTGT) Stock Price Down 5.1% – Time to Sell?

TechTarget, Inc. (NASDAQ:TTGT)’s stock price was down 5.1% on Friday . The stock traded as low as $20.77 and last traded at $20.84. Approximately 78,307 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 254,563 shares. The stock had previously closed at $21.96.

Wall Street Analyst Weigh In

Several research analysts have commented on TTGT shares. StockNews.com assumed coverage on shares of TechTarget in a research report on Thursday, December 5th. They issued 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 report on Wednesday, November 13th. Craig Hallum raised their target price on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, KeyCorp cut their target price 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, TechTarget currently has a consensus rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Stock Down 2.9 %

The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The firm’s fifty day moving average price is $28.17 and its 200-day moving average price is $28.45.

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 positive return on equity of 5.44% and a negative net margin of 5.34%. The firm had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. During the same period last year, the company posted $0.13 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TTGT. The Manufacturers Life Insurance Company lifted its holdings in 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 acquiring an additional 430 shares during the last quarter. Inspire Investing LLC raised its holdings in shares of TechTarget by 4.3% in the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock worth $355,000 after purchasing an additional 469 shares in the last quarter. Geode Capital Management LLC lifted its stake in TechTarget by 0.3% during the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after purchasing an additional 1,602 shares during the last quarter. Sei Investments Co. boosted its holdings in TechTarget by 5.1% during the second quarter. Sei Investments Co. now owns 34,543 shares of the information services provider’s stock worth $1,077,000 after buying an additional 1,690 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its holdings in TechTarget by 10.0% during the second quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock worth $776,000 after buying an additional 2,254 shares in the last quarter. 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.