ServiceTitan Inc. (NASDAQ:TTAN) Short Interest Update

ServiceTitan Inc. (NASDAQ:TTAN) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 5,169,716 shares, a growth of 23.3% from the December 15th total of 4,194,489 shares. Based on an average daily volume of 774,393 shares, the days-to-cover ratio is presently 6.7 days. Approximately 11.4% of the shares of the company are short sold. Approximately 11.4% of the shares of the company are short sold. Based on an average daily volume of 774,393 shares, the days-to-cover ratio is presently 6.7 days.

Insiders Place Their Bets

In other ServiceTitan news, President Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $102.82, for a total transaction of $1,685,014.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ara Mahdessian sold 88,525 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total value of $9,521,749.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 354,224 shares of company stock valued at $35,316,418. Corporate insiders own 51.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TTAN. Woodline Partners LP grew its stake in ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after acquiring an additional 95 shares during the period. PNC Financial Services Group Inc. lifted its holdings in ServiceTitan by 16.1% during the third quarter. PNC Financial Services Group Inc. now owns 858 shares of the company’s stock valued at $87,000 after purchasing an additional 119 shares in the last quarter. Toth Financial Advisory Corp grew its position in shares of ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares during the period. Cloud Capital Management LLC purchased a new stake in shares of ServiceTitan during the third quarter worth about $25,000. Finally, eCIO Inc. acquired a new position in shares of ServiceTitan during the 4th quarter worth about $30,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TTAN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a report on Monday, December 29th. UBS Group restated a “buy” rating on shares of ServiceTitan in a research note on Monday, December 1st. BMO Capital Markets raised their target price on shares of ServiceTitan from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, December 5th. Truist Financial set a $130.00 target price on shares of ServiceTitan in a research report on Tuesday, October 21st. Finally, TD Cowen increased their price target on ServiceTitan from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ServiceTitan presently has an average rating of “Moderate Buy” and a consensus price target of $135.31.

ServiceTitan Stock Down 1.3%

TTAN opened at $89.59 on Wednesday. The company has a fifty day moving average of $98.87 and a two-hundred day moving average of $103.13. The stock has a market capitalization of $8.39 billion and a price-to-earnings ratio of -21.96. ServiceTitan has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14.

ServiceTitan (NASDAQ:TTAN) last posted its 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 net margin of 23.91% and a negative return on equity of 10.96%. The business had revenue of $249.16 million for the quarter, compared to analyst estimates of $238.26 million. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, research analysts expect that ServiceTitan will post -1.98 earnings per share for the current year.

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.