ServiceTitan Inc. (NASDAQ:TTAN – Get Free Report)’s share price rose 7% on Friday . The company traded as high as $67.45 and last traded at $67.8090. Approximately 186,935 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,386,214 shares. The stock had previously closed at $63.40.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Morgan Stanley increased their target price on shares of ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. BMO Capital Markets lifted their price objective on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Canaccord Genuity Group reduced their target price on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a report on Friday, March 13th. Finally, BTIG Research upped their price target on ServiceTitan from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.53.
Get Our Latest Report on ServiceTitan
ServiceTitan Stock Up 5.7%
ServiceTitan (NASDAQ:TTAN – Get Free Report) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.09. The company had revenue of $268.82 million for the quarter, compared to the consensus estimate of $257.40 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. As a group, analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current year.
Insider Buying and Selling
In other ServiceTitan news, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of ServiceTitan stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the transaction, the insider owned 443,221 shares of the company’s stock, valued at approximately $28,113,508.03. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J.G. Griffith sold 94,415 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the transaction, the director directly owned 443,221 shares of the company’s stock, valued at $28,113,508.03. The trade was a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 244,807 shares of company stock valued at $15,649,413 in the last ninety days. Company insiders own 39.89% of the company’s stock.
Hedge Funds Weigh In On ServiceTitan
Hedge funds have recently made changes to their positions in the company. Toth Financial Advisory Corp raised 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 buying an additional 150 shares during the last quarter. Farther Finance Advisors LLC lifted its position in 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 shares of ServiceTitan during the 4th quarter worth approximately $30,000. Elevation Wealth Partners LLC purchased a new position in shares of ServiceTitan during the fourth quarter worth $36,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after acquiring an additional 392 shares during the period.
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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