TechTarget (NASDAQ:TTGT) Shares Gap Down - Here's Why

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $7.40, but opened at $7.04. TechTarget shares last traded at $7.45, with a volume of 66,484 shares trading hands.

Analyst Ratings Changes

A number of research firms recently weighed in on TTGT. Craig Hallum began coverage on TechTarget in a research report on Monday, June 9th. They issued a "buy" rating and a $12.00 price target for the company. Lake Street Capital decreased their price target on TechTarget from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price target on shares of TechTarget in a research report on Wednesday, July 2nd. Wall Street Zen raised TechTarget from a "sell" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, JPMorgan Chase & Co. downgraded TechTarget from a "neutral" rating to an "underweight" rating and reduced their price objective for the stock from $18.00 to $8.00 in a research note on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $19.33.

TechTarget Stock Performance

The stock has a 50 day moving average price of $7.51 and a two-hundred day moving average price of $11.84. The company has a market capitalization of $516.87 million, a PE ratio of -17.21 and a beta of 1.02.

TechTarget (NASDAQ:TTGT - Get Free Report) last posted its quarterly earnings results on Monday, July 14th. The information services provider reported ($2.24) earnings per share for the quarter. TechTarget had a negative return on equity of 125.41% and a negative net margin of 193.29%. Sell-side analysts predict that TechTarget, Inc. will post -0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new position in shares of TechTarget in the 4th quarter valued at approximately $103,000. Quantbot Technologies LP acquired a new stake in TechTarget in the 4th quarter valued at approximately $173,000. PNC Financial Services Group Inc. grew its holdings in TechTarget by 18.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider's stock valued at $145,000 after buying an additional 1,541 shares during the last quarter. State of Tennessee Department of Treasury grew its holdings in TechTarget by 8.2% in the 4th quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider's stock valued at $239,000 after buying an additional 910 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in TechTarget in the 1st quarter valued at approximately $190,000. 93.52% of the stock is owned by 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.

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