TechTarget (NASDAQ:TTGT) Stock Price Down 6.9% - Here's Why

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) traded down 6.9% on Friday . The company traded as low as $7.44 and last traded at $7.21. 49,449 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 267,797 shares. The stock had previously closed at $7.75.

Analysts Set New Price Targets

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

TechTarget Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $496.14 million, a P/E ratio of -16.52 and a beta of 1.02. The stock's 50 day moving average price is $7.43 and its 200 day moving average price is $11.41.

TechTarget (NASDAQ:TTGT - Get Free Report) last released its quarterly earnings data 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 31.98% and a negative net margin of 188.03%. The business had revenue of $103.89 million for the quarter. As a group, equities analysts expect that TechTarget, Inc. will post -0.46 EPS for the current year.

Hedge Funds Weigh In On TechTarget

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTGT. Trigran Investments Inc. raised its stake in TechTarget by 20.4% in the first quarter. Trigran Investments Inc. now owns 4,526,836 shares of the information services provider's stock valued at $67,042,000 after purchasing an additional 767,327 shares in the last quarter. Vanguard Group Inc. raised its stake in TechTarget by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,923,408 shares of the information services provider's stock valued at $28,486,000 after purchasing an additional 18,603 shares in the last quarter. Royal Bank of Canada raised its stake in TechTarget by 30.3% in the fourth quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider's stock valued at $19,380,000 after purchasing an additional 227,459 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TechTarget by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 806,078 shares of the information services provider's stock worth $15,977,000 after acquiring an additional 11,646 shares during the last quarter. Finally, Earnest Partners LLC lifted its holdings in shares of TechTarget by 41.3% in the 1st quarter. Earnest Partners LLC now owns 686,440 shares of the information services provider's stock worth $10,166,000 after acquiring an additional 200,495 shares during the last quarter. Institutional investors 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.