Why TechTarget Stock Was Down This Week
TechTarget (NASDAQ: TTGT) stock underperformed this week, falling 17% through Thursday trading compared to a 0.7% decline in the wider market, according to data provided by S&P Global Market Intelligence. The marketing analytics specialist is now in negative territory for the year, down roughly 5% in 2023.
Investors weren't thrilled with TechTarget's latest earnings announcement that blamed increasing macroeconomic pressures for a slower growth outlook.
The company managed solid sales results in the fourth quarter. Sales fell 5% in the period, down to $73 million, which beat management's prior outlook. Yet much of the executive team's letter to shareholders focused on worsening market trends.
Source Fool.com
