ServiceTitan (NASDAQ:TTAN) Stock Price Up 10% – Still a Buy?

ServiceTitan Inc. (NASDAQ:TTAN) rose 10% during trading on Thursday . The stock traded as high as $72.87 and last traded at $72.74. Approximately 1,266,345 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 1,526,961 shares. The stock had previously closed at $66.11.

Analyst Ratings Changes

Several analysts have issued reports on TTAN shares. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Monday, December 1st. Wells Fargo & Company dropped their target price on shares of ServiceTitan from $140.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a report on Tuesday, December 16th. TD Cowen restated a “buy” rating on shares of ServiceTitan in a research note on Monday. Finally, The Goldman Sachs Group began coverage on ServiceTitan in a research note on Tuesday, January 13th. They set a “neutral” rating and a $117.00 target price for the company. One 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $133.13.

ServiceTitan Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14. The firm has a market cap of $6.85 billion, a P/E ratio of -17.92 and a beta of -0.86. The company’s 50-day moving average is $86.85 and its two-hundred day moving average is $95.72.

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

Insider Transactions at ServiceTitan

In related news, CAO Michele O’connor sold 1,678 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total value of $176,693.40. Following the sale, the chief accounting officer owned 89,571 shares of the company’s stock, valued at $9,431,826.30. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ara Mahdessian sold 88,525 shares of ServiceTitan stock in a transaction dated Wednesday, December 10th. The stock was 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. Insiders sold 216,371 shares of company stock worth $22,700,994 in the last 90 days. 51.72% of the stock is currently owned by company insiders.

Institutional Trading of ServiceTitan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTAN. Woodline Partners LP raised its holdings in shares of ServiceTitan by 4.6% during the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after purchasing an additional 95 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of ServiceTitan in the 2nd quarter worth $204,000. Envestnet Asset Management Inc. bought a new stake in ServiceTitan during the 2nd quarter valued at $13,774,000. Jennison Associates LLC acquired a new position in ServiceTitan during the second quarter worth $12,285,000. Finally, Keybank National Association OH bought a new position in shares of ServiceTitan in the second quarter valued at $250,000.

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.