ServiceTitan (NASDAQ:TTAN) Stock Price Down 6% – Time to Sell?

ServiceTitan Inc. (NASDAQ:TTANGet Free Report) shares were down 6% on Monday . The company traded as low as $72.77 and last traded at $72.7360. Approximately 545,790 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 1,379,658 shares. The stock had previously closed at $77.40.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TTAN shares. Wells Fargo & Company dropped their target price on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Truist Financial reiterated a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of ServiceTitan in a report on Friday. TD Cowen boosted their price target on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday. The Goldman Sachs Group lowered their price target on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Finally, Piper Sandler boosted their price target on ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.53.

Get Our Latest Research Report on TTAN

ServiceTitan Trading Down 4.2%

The business has a fifty day simple moving average of $63.24 and a two-hundred day simple moving average of $77.99. The stock has a market cap of $7.06 billion, a PE ratio of -51.21 and a beta of 0.12.

ServiceTitan (NASDAQ:TTANGet Free Report) last posted its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.64% and a negative net margin of 13.44%.The firm had revenue of $268.82 million for the quarter, compared to the consensus estimate of $257.40 million. During the same quarter in the prior year, the business earned $0.18 EPS. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, research analysts predict that ServiceTitan Inc. will post -0.62 earnings per share for the current year.

Insider Transactions at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 17,778 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 $1,241,971.08. Following the transaction, the chief financial officer owned 313,025 shares in the company, valued at approximately $21,867,926.50. This represents a 5.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $224,949.20. Following the completion of the sale, the president owned 1 shares in the company, 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. Insiders have sold a total of 33,440 shares of company stock worth $2,281,468 over the last quarter. Insiders own 39.89% of the company’s stock.

Institutional Trading of ServiceTitan

Several hedge funds and other institutional investors have recently made changes to their positions in TTAN. Vanguard Group Inc. raised its holdings in ServiceTitan by 538.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after purchasing an additional 3,735,968 shares during the period. Thornburg Investment Management Inc. bought a new position in ServiceTitan in the 3rd quarter worth $8,338,000. Sandhill Capital Partners LLC bought a new position in ServiceTitan in the 3rd quarter worth $27,062,000. Renaissance Capital LLC raised its holdings in ServiceTitan by 222.8% in the 4th quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock worth $4,390,000 after purchasing an additional 28,454 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new position in ServiceTitan in the 3rd quarter worth $84,983,000.

About ServiceTitan

(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

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