ServiceTitan (NASDAQ:TTAN) Stock Price Down 5.6% – Time to Sell?

Shares of ServiceTitan Inc. (NASDAQ:TTAN) fell 5.6% during trading on Tuesday . The stock traded as low as $99.08 and last traded at $100.35. 258,026 shares were traded during mid-day trading, a decline of 63% from the average session volume of 699,227 shares. The stock had previously closed at $106.34.

Analyst Ratings Changes

TTAN has been the subject of several analyst reports. TD Cowen raised their price target on shares of ServiceTitan from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, December 5th. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, December 16th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a report on Monday, December 29th. The Goldman Sachs Group assumed coverage on ServiceTitan in a report on Tuesday. They set a “neutral” rating and a $117.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on ServiceTitan from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.31.

ServiceTitan Stock Down 5.6%

The company has a market cap of $9.40 billion and a P/E ratio of -24.61. The stock’s 50-day moving average price is $98.82 and its 200-day moving average price is $103.79. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.09. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The business had revenue of $249.16 million for the quarter, compared to analyst estimates of $238.26 million. During the same quarter in the prior year, the company earned $0.75 earnings per share. The company’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, research analysts forecast that ServiceTitan Inc. will post -1.98 EPS for the current year.

Insider Buying and Selling

In other ServiceTitan news, CEO Ara Mahdessian sold 88,525 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total transaction of $9,521,749.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Sherry sold 11,672 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total transaction of $1,229,061.60. Following the transaction, the chief financial officer owned 331,781 shares in the company, valued at approximately $34,936,539.30. The trade was a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 323,910 shares of company stock worth $32,324,141 in the last ninety days. Corporate insiders own 51.72% of the company’s stock.

Hedge Funds Weigh In On ServiceTitan

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after purchasing an additional 3,735,968 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in ServiceTitan by 118.4% during the third quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after buying an additional 1,569,136 shares in the last quarter. Invesco Ltd. raised its position in ServiceTitan by 1,388.2% in the 2nd quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock valued at $158,344,000 after buying an additional 1,378,100 shares during the last quarter. Franklin Resources Inc. lifted its stake in ServiceTitan by 148.4% during the 2nd quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock valued at $202,917,000 after acquiring an additional 1,131,062 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in ServiceTitan during the 3rd quarter worth $84,983,000.

About ServiceTitan

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.