ServiceTitan Inc. (NASDAQ:TTAN – Get Free Report)’s share price reached a new 52-week low on Wednesday . The company traded as low as $54.64 and last traded at $55.7850, with a volume of 124151 shares. The stock had previously closed at $57.50.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on TTAN. BMO Capital Markets decreased their price objective on ServiceTitan from $108.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 13th. Morgan Stanley decreased their price objective on ServiceTitan from $131.00 to $118.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. Citigroup decreased their price objective on ServiceTitan from $117.00 to $88.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Finally, William Blair reissued an “outperform” rating on shares of ServiceTitan in a research report on Friday, March 13th. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ServiceTitan currently has an average rating of “Moderate Buy” and a consensus price target of $112.31.
Get Our Latest Analysis on TTAN
ServiceTitan Price Performance
ServiceTitan (NASDAQ:TTAN – Get Free Report) last issued its earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $253.99 million for the quarter, compared to analyst estimates of $245.47 million. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.86%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. As a group, equities research analysts predict that ServiceTitan Inc. will post -0.62 earnings per share for the current year.
Insider Activity at ServiceTitan
In other news, CEO Ara Mahdessian sold 2,288 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $159,839.68. Following the transaction, the chief executive officer directly owned 1 shares of the company’s stock, valued at approximately $69.86. This trade represents a 99.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Vahe Kuzoyan sold 3,220 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $224,949.20. Following the completion of the sale, the president directly owned 1 shares of the company’s stock, valued at $69.86. The trade was a 99.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 33,440 shares of company stock valued at $2,281,468. 39.89% of the stock is owned by insiders.
Institutional Investors Weigh In On ServiceTitan
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Madison Asset Management LLC lifted its position in ServiceTitan by 41.1% during the first quarter. Madison Asset Management LLC now owns 900,112 shares of the company’s stock valued at $57,121,000 after acquiring an additional 262,037 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of ServiceTitan in the first quarter worth $915,000. Parallel Advisors LLC boosted its holdings in ServiceTitan by 226.4% in the first quarter. Parallel Advisors LLC now owns 1,717 shares of the company’s stock valued at $109,000 after purchasing an additional 1,191 shares during the last quarter. KBC Group NV boosted its holdings in ServiceTitan by 101.6% in the first quarter. KBC Group NV now owns 1,730 shares of the company’s stock valued at $110,000 after purchasing an additional 872 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in ServiceTitan by 136.7% in the first quarter. Swiss National Bank now owns 112,200 shares of the company’s stock valued at $7,120,000 after purchasing an additional 64,800 shares during 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.
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