ServiceTitan (NASDAQ:TTAN) Reaches New 1-Year Low – Should You Sell?

ServiceTitan Inc. (NASDAQ:TTAN) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $60.19 and last traded at $60.47, with a volume of 408888 shares changing hands. The stock had previously closed at $64.66.

Analyst Ratings Changes

Several brokerages have commented on TTAN. The Goldman Sachs Group assumed coverage on shares of ServiceTitan in a research report on Tuesday, January 13th. They issued a “neutral” rating and a $117.00 price target for the company. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, December 16th. Truist Financial set a $130.00 price objective on ServiceTitan in a research report on Tuesday, October 21st. Wells Fargo & Company reduced their target price on shares of ServiceTitan from $140.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Finally, UBS Group reiterated a “buy” rating on shares of ServiceTitan in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.13.

ServiceTitan Stock Performance

The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07. The company has a market cap of $5.88 billion, a P/E ratio of -15.38 and a beta of -0.86. The company has a 50 day moving average price of $94.39 and a 200-day moving average price of $98.93.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The firm had revenue of $249.16 million for the quarter, compared to analyst estimates of $238.26 million. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share. On average, equities analysts expect that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ara Mahdessian sold 88,525 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total value of $9,521,749.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David Sherry sold 11,672 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total transaction of $1,229,061.60. Following the completion of the sale, the chief financial officer directly owned 331,781 shares in the company, valued at approximately $34,936,539.30. The trade was a 3.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 217,204 shares of company stock worth $22,772,799 over the last 90 days. 51.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TTAN. Woodline Partners LP increased its holdings in ServiceTitan by 4.6% during the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after buying an additional 95 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in ServiceTitan in the 2nd quarter worth $273,000. Wilmington Savings Fund Society FSB lifted its position in ServiceTitan by 17,761.4% during the second quarter. Wilmington Savings Fund Society FSB now owns 10,181 shares of the company’s stock valued at $1,091,000 after purchasing an additional 10,124 shares in the last quarter. WCM Investment Management LLC increased its position in ServiceTitan by 215.4% in the second quarter. WCM Investment Management LLC now owns 265,316 shares of the company’s stock worth $28,636,000 after buying an additional 181,195 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in ServiceTitan in the 2nd quarter worth approximately $267,000.

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.