Short Interest in ServiceTitan Inc. (NASDAQ:TTAN) Rises By 34.1%

by · The Markets Daily

ServiceTitan Inc. (NASDAQ:TTAN – Get Free Report) was the target of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 5,842,634 shares, a growth of 34.1% from the January 29th total of 4,356,626 shares. Currently, 12.9% of the company’s shares are short sold. Based on an average daily trading volume, of 2,343,598 shares, the short-interest ratio is presently 2.5 days. Based on an average daily trading volume, of 2,343,598 shares, the short-interest ratio is presently 2.5 days. Currently, 12.9% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TTAN shares. Morgan Stanley boosted their price target on shares of ServiceTitan from $118.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, December 5th. BTIG Research assumed coverage on ServiceTitan in a research report on Tuesday, December 16th. They issued a “buy” rating and a $130.00 target price on the stock. The Goldman Sachs Group assumed coverage on ServiceTitan in a research report on Tuesday, January 13th. They set a “neutral” rating and a $117.00 price target for the company. TD Cowen reiterated a “buy” rating on shares of ServiceTitan in a report on Monday, February 23rd. Finally, Piper Sandler reduced their target price on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ServiceTitan currently has a consensus rating of “Moderate Buy” and an average price target of $133.13.

Read Our Latest Analysis on TTAN

Insider Activity

In related news, CEO Ara Mahdessian sold 32,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $98.50, for a total value of $3,152,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock in a transaction 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 completion of the sale, the president owned 1 shares in the company, valued at $100.62. This represents a 99.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 216,371 shares of company stock worth $22,700,994 in the last 90 days. 51.72% of the stock is owned by corporate insiders.

Institutional Trading of ServiceTitan

Institutional investors have recently modified their holdings of the business. Cloud Capital Management LLC acquired a new position in ServiceTitan during the third quarter worth about $25,000. Toth Financial Advisory Corp increased its position in ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after buying an additional 174 shares during the last quarter. eCIO Inc. purchased a new position in ServiceTitan during the fourth quarter worth about $30,000. Finally, Elevation Wealth Partners LLC purchased a new position in ServiceTitan in the 4th quarter worth approximately $36,000.

ServiceTitan Stock Performance

Shares of NASDAQ TTAN traded up $0.39 during trading hours on Monday, reaching $72.78. The stock had a trading volume of 73,248 shares, compared to its average volume of 1,528,428. The firm has a 50-day moving average of $85.45 and a 200-day moving average of $95.31. ServiceTitan has a fifty-two week low of $58.01 and a fifty-two week high of $131.33. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of -17.84 and a beta of -0.71. 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 – Get Free Report) last announced its earnings results on Thursday, December 4th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The business had revenue of $249.16 million during the quarter, compared to analysts’ expectations of $238.26 million. During the same period in the prior year, the company earned $0.75 earnings per share. The business’s revenue was up 25.0% compared to the same quarter last year. Equities research analysts predict that ServiceTitan will post -1.98 earnings per share for the current year.

ServiceTitan Company Profile

(Get Free Report)

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.

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