TechTarget (NASDAQ:TTGT) Shares Down 2.3% – Should You Sell?

Shares of TechTarget, Inc. (NASDAQ:TTGT) traded down 2.3% during trading on Tuesday . The stock traded as low as $18.74 and last traded at $18.82. 64,526 shares traded hands during trading, a decline of 81% from the average session volume of 343,540 shares. The stock had previously closed at $19.26.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TTGT shares. StockNews.com began coverage on TechTarget in a research note on Tuesday. They set a “hold” rating on the stock. Craig Hallum lifted their target price on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research report on Wednesday, November 13th. Finally, KeyCorp lowered 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, TechTarget currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.17.

TechTarget Stock Down 4.4 %

The stock’s 50-day moving average price is $27.71 and its 200-day moving average price is $28.00. 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 stock has a market cap of $538.51 million, a price-to-earnings ratio of -43.86, a P/E/G ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The firm had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.13 EPS. On average, sell-side analysts expect that TechTarget, Inc. will post 0.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. BOKF NA bought a new stake in TechTarget in the second quarter valued at $239,000. The Manufacturers Life Insurance Company increased its position 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 buying an additional 430 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in TechTarget during the 3rd quarter worth approximately $245,000. Intech Investment Management LLC bought a new position in TechTarget in the third quarter worth approximately $257,000. Finally, Quest Partners LLC acquired a new stake in TechTarget in the third quarter valued at approximately $272,000. 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.