ServiceTitan (NASDAQ:TTAN) Sets New 1-Year Low – What’s Next?

ServiceTitan Inc. (NASDAQ:TTAN)’s share price hit a new 52-week low on Friday . The stock traded as low as $79.10 and last traded at $81.03, with a volume of 1982673 shares. The stock had previously closed at $91.57.

Wall Street Analyst Weigh In

TTAN has been the subject of several recent research reports. TD Cowen reaffirmed a “buy” rating on shares of ServiceTitan in a report on Friday, December 5th. BMO Capital Markets upped their target price on ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, December 5th. Morgan Stanley lifted their price target on ServiceTitan from $118.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday, December 29th. Finally, Truist Financial set a $130.00 price objective on shares of ServiceTitan in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $135.31.

ServiceTitan Trading Down 11.5%

The firm has a market cap of $7.59 billion and a price-to-earnings ratio of -19.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. The company has a 50 day moving average price of $99.20 and a 200 day moving average price of $102.27.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $249.16 million during the quarter, compared to the consensus estimate of $238.26 million. During the same period last year, the company earned $0.75 EPS. The company’s quarterly revenue was up 25.0% on a year-over-year basis. On average, research analysts expect that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Insider Activity at ServiceTitan

In other news, President Vahe Kuzoyan sold 16,388 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $100.62, for a total value of $1,648,960.56. Following the transaction, the president directly owned 1 shares in the company, valued at approximately $100.62. This represents a 99.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Sherry sold 833 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $91.30, for a total transaction of $76,052.90. Following the transaction, the chief financial officer directly owned 330,948 shares of the company’s stock, valued at $30,215,552.40. The trade was a 0.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 355,202 shares of company stock valued at $35,405,269 over the last 90 days. Insiders own 51.72% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank lifted its stake in ServiceTitan by 372.3% during the 4th quarter. Comerica Bank now owns 26,513 shares of the company’s stock worth $2,824,000 after acquiring an additional 20,899 shares in the last quarter. Renaissance Capital LLC lifted its position in shares of ServiceTitan by 222.8% during the fourth quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock worth $4,390,000 after purchasing an additional 28,454 shares in the last quarter. Anchyra Partners LLC acquired a new stake in shares of ServiceTitan during the fourth quarter worth about $1,767,000. Pictet Asset Management Holding SA purchased a new position in shares of ServiceTitan in the fourth quarter valued at approximately $376,000. Finally, UBS Group AG grew its holdings in shares of ServiceTitan by 6.8% in the fourth quarter. UBS Group AG now owns 114,028 shares of the company’s stock valued at $12,144,000 after purchasing an additional 7,254 shares in the last quarter.

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.