ServiceTitan (NASDAQ:TTAN) Trading Down 4% – Here’s What Happened

ServiceTitan Inc. (NASDAQ:TTANGet Free Report) dropped 4% during mid-day trading on Tuesday . The company traded as low as $91.53 and last traded at $91.8210. Approximately 367,806 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 1,428,696 shares. The stock had previously closed at $95.64.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TTAN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a report on Wednesday, June 17th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research note on Tuesday, July 21st. BMO Capital Markets raised their target price on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, June 5th. BTIG Research restated a “buy” rating and set a $110.00 price target on shares of ServiceTitan in a research report on Friday, July 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Fourteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $108.93.

Read Our Latest Stock Analysis on ServiceTitan

ServiceTitan Stock Performance

The firm has a 50 day simple moving average of $78.70 and a two-hundred day simple moving average of $70.36. The stock has a market cap of $8.71 billion, a P/E ratio of -63.10 and a beta of 0.02.

ServiceTitan (NASDAQ:TTANGet Free Report) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business had revenue of $268.82 million for the quarter, compared to analysts’ expectations of $257.40 million. During the same period in the previous year, the business earned $0.18 earnings per share. The company’s revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current year.

Insider Activity at ServiceTitan

In other news, CEO Ara Mahdessian sold 51,947 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Vahe Kuzoyan sold 114,732 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $88.84, for a total transaction of $10,192,790.88. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 524,837 shares of company stock worth $39,894,622 in the last quarter. Company insiders own 39.89% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in shares of ServiceTitan by 189.1% in the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares during the period. Northwestern Mutual Wealth Management Co. raised 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 worth $46,000 after buying an additional 392 shares during the period. State of Wyoming purchased a new stake in ServiceTitan during the first quarter valued at about $48,000. Sunbelt Securities Inc. boosted its holdings in shares of ServiceTitan by 391.0% in the fourth quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock worth $52,000 after buying an additional 391 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of ServiceTitan by 161.7% in the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock worth $53,000 after buying an additional 325 shares during the period.

ServiceTitan Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for ServiceTitan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceTitan and related companies with MarketBeat.com's FREE daily email newsletter.