ServiceTitan (NASDAQ:TTAN) Sets New 12-Month Low Following Analyst Downgrade

ServiceTitan Inc. (NASDAQ:TTAN)’s share price reached a new 52-week low on Thursday after Wells Fargo & Company lowered their price target on the stock from $140.00 to $125.00. Wells Fargo & Company currently has an overweight rating on the stock. ServiceTitan traded as low as $61.78 and last traded at $64.25, with a volume of 3249669 shares trading hands. The stock had previously closed at $67.51.

TTAN has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 29th. Piper Sandler lowered their target price on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday. KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, December 16th. Morgan Stanley lifted their price target on ServiceTitan from $118.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, December 5th. Finally, BTIG Research assumed coverage on ServiceTitan in a research note on Tuesday, December 16th. They issued a “buy” rating and a $130.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.13.

Insider Buying and Selling

In related news, President Vahe Kuzoyan sold 16,388 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $100.62, for a total value of $1,648,960.56. Following the transaction, the president directly owned 1 shares of the company’s stock, valued at approximately $100.62. This trade represents a 99.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Sherry sold 833 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $91.30, for a total value of $76,052.90. Following the completion of the sale, the chief financial officer owned 330,948 shares of the company’s stock, valued at approximately $30,215,552.40. This trade represents a 0.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 233,592 shares of company stock worth $24,280,986 over the last ninety days. 51.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ServiceTitan

A number of institutional investors have recently modified their holdings of the company. Woodline Partners LP boosted its holdings in shares of ServiceTitan by 4.6% during the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after buying an additional 95 shares during the period. Janney Montgomery Scott LLC acquired a new position in ServiceTitan during the 2nd quarter worth $3,438,000. Truist Financial Corp bought a new stake in ServiceTitan during the second quarter valued at about $2,488,000. Blair William & Co. IL acquired a new stake in shares of ServiceTitan in the second quarter valued at about $2,330,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of ServiceTitan in the second quarter worth about $273,000.

ServiceTitan Stock Down 4.6%

The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14. The firm has a market capitalization of $5.74 billion, a P/E ratio of -15.02 and a beta of -0.86. The business has a 50 day moving average price of $97.26 and a 200 day moving average price of $100.80.

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

ServiceTitan Company Profile

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.