ServiceTitan (NASDAQ:TTAN) Posts Earnings Results, Beats Estimates By $0.09 EPS

ServiceTitan (NASDAQ:TTAN) announced its earnings results on Thursday. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.09, FiscalAI reports. 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 16.87% and a negative net margin of 26.08%.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN traded up $2.28 during trading on Thursday, reaching $95.59. The stock had a trading volume of 1,859,228 shares, compared to its average volume of 832,044. The stock has a market capitalization of $8.89 billion and a PE ratio of -17.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 4.49. ServiceTitan has a 52 week low of $79.81 and a 52 week high of $131.33. The business’s 50-day moving average price is $94.59 and its 200 day moving average price is $104.93.

Insider Buying and Selling at ServiceTitan

In related news, CEO Ara Mahdessian sold 46,542 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $91.40, for a total value of $4,253,938.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Vahe Kuzoyan sold 16,690 shares of the company’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $104.81, for a total value of $1,749,278.90. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,121,690 shares of company stock worth $126,740,332. 51.72% of the stock is currently owned by insiders.

Institutional Trading of ServiceTitan

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 392 shares during the period. Parallel Advisors LLC grew its position in shares of ServiceTitan by 161.7% during the 3rd 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. EverSource Wealth Advisors LLC bought a new stake in shares of ServiceTitan in the 2nd quarter valued at about $94,000. Lazard Asset Management LLC acquired a new stake in shares of ServiceTitan in the 2nd quarter valued at approximately $99,000. Finally, Osaic Holdings Inc. boosted its stake in ServiceTitan by 251.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,195 shares of the company’s stock worth $128,000 after acquiring an additional 855 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TTAN. BMO Capital Markets lowered their price objective on shares of ServiceTitan from $129.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Truist Financial set a $130.00 target price on shares of ServiceTitan in a research note on Tuesday, October 21st. Stifel Nicolaus boosted their price target on ServiceTitan from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Citigroup upped their target price on ServiceTitan from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Tuesday, September 9th. Finally, UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceTitan currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.73.

About ServiceTitan

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.