ServiceTitan (NASDAQ:TTAN) Shares Down 4.7% – Time to Sell?

ServiceTitan Inc. (NASDAQ:TTAN) traded down 4.7% during mid-day trading on Friday . The stock traded as low as $87.93 and last traded at $88.76. Approximately 133,550 shares were traded during trading, a decline of 91% from the average daily volume of 1,409,253 shares. The stock had previously closed at $93.10.

Analyst Ratings Changes

TTAN has been the topic of a number of analyst reports. Truist Financial reiterated a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th. TD Cowen raised their price target on shares of ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Piper Sandler raised their price objective on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of ServiceTitan in a research report on Wednesday, June 17th. Finally, BMO Capital Markets lifted their price target on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Fourteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.93.

ServiceTitan Price Performance

The stock has a market cap of $8.49 billion, a price-to-earnings ratio of -61.40 and a beta of 0.11. The stock’s 50 day simple moving average is $83.72 and its two-hundred day simple moving average is $72.20.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. The company had revenue of $268.82 million for the quarter, compared to the consensus estimate of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. As a group, analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Insider Transactions at ServiceTitan

In other news, President Vahe Kuzoyan sold 114,732 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $88.84, for a total value of $10,192,790.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ara Mahdessian sold 51,947 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total value of $4,206,668.06. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 524,837 shares of company stock valued at $39,894,622. Corporate insiders own 39.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System lifted its stake in ServiceTitan by 7,065.5% during the second quarter. California State Teachers Retirement System now owns 4,537,461 shares of the company’s stock worth $320,844,000 after purchasing an additional 4,474,137 shares during the last quarter. Norges Bank bought a new stake in ServiceTitan in the fourth quarter valued at approximately $112,678,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of ServiceTitan during the fourth quarter worth $89,702,000. Madison Asset Management LLC bought a new position in shares of ServiceTitan in the 2nd quarter worth about $56,118,000. Finally, Atreides Management LP bought a new position in shares of ServiceTitan during the 2nd quarter worth approximately $68,679,000.

ServiceTitan Company Profile

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.