ServiceTitan (NASDAQ:TTAN) Shares Down 4% – Time to Sell?
by Danessa Lincoln · The Markets DailyServiceTitan Inc. (NASDAQ:TTAN – Get Free Report) fell 4% on Tuesday . The stock traded as low as $91.53 and last traded at $91.8210. 367,806 shares were traded during trading, a decline of 74% from the average session volume of 1,428,696 shares. The stock had previously closed at $95.64.
Analyst Ratings Changes
A number of analysts have recently issued reports on TTAN shares. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a report on Monday. Citigroup reissued a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a research note on Wednesday, June 17th. BMO Capital Markets raised their price objective on ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, June 5th. Finally, Stifel Nicolaus set a $125.00 target price on ServiceTitan in a report on Wednesday, May 27th. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.93.
Check Out Our Latest Stock Analysis on TTAN
ServiceTitan Stock Down 4.5%
The stock’s 50 day moving average price is $78.70 and its two-hundred day moving average price is $70.36. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of -63.10 and a beta of 0.02.
ServiceTitan (NASDAQ:TTAN – Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The firm had revenue of $268.82 million during the quarter, compared to analysts’ expectations of $257.40 million. During the same quarter last year, the firm earned $0.18 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, equities analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.
Insider Buying and Selling at ServiceTitan
In related news, President Vahe Kuzoyan sold 16,388 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $88.95, for a total transaction of $1,457,712.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Byron B. Deeter sold 8,845 shares of ServiceTitan stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $63.35, for a total transaction of $560,330.75. Following the completion of the sale, the director owned 13,782 shares of the company’s stock, valued at $873,089.70. This trade represents a 39.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 524,837 shares of company stock worth $39,894,622 over the last quarter. Insiders own 39.89% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of TTAN. Woodline Partners LP boosted its holdings in ServiceTitan by 4.6% in the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after purchasing an additional 95 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of ServiceTitan in the second quarter worth about $345,000. Russell Investments Group Ltd. bought a new stake in shares of ServiceTitan during the 2nd quarter worth about $500,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after acquiring an additional 392 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of ServiceTitan during the 2nd quarter valued at about $393,000.
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.