ServiceTitan (NASDAQ:TTAN) Sets New 52-Week Low Following Analyst Downgrade

ServiceTitan Inc. (NASDAQ:TTAN) hit 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 changing hands. The stock had previously closed at $67.51.

A number of other research analysts have also recently issued reports on TTAN. The Goldman Sachs Group assumed coverage on ServiceTitan in a research note on Tuesday, January 13th. They set a “neutral” rating and a $117.00 price objective for the company. UBS Group restated a “buy” rating on shares of ServiceTitan in a report on Monday, December 1st. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, December 16th. TD Cowen restated a “buy” rating on shares of ServiceTitan in a research note on Friday, December 5th. Finally, BTIG Research started coverage on shares of ServiceTitan in a research note on Tuesday, December 16th. They issued a “buy” rating and a $130.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ServiceTitan has a consensus rating of “Moderate Buy” and a consensus price target of $133.13.

Insider Transactions at ServiceTitan

In related news, CEO Ara Mahdessian sold 88,525 shares of ServiceTitan stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $107.56, for a total value of $9,521,749.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Vahe Kuzoyan sold 16,388 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $102.82, for a total value of $1,685,014.16. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 233,592 shares of company stock valued at $24,280,986. Corporate insiders own 51.72% of the company’s stock.

Institutional Trading of ServiceTitan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cloud Capital Management LLC bought a new stake in shares of ServiceTitan during the 3rd quarter valued at $25,000. Toth Financial Advisory Corp lifted its position in ServiceTitan by 150.0% during the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Farther Finance Advisors LLC lifted its position in ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares in the last quarter. eCIO Inc. bought a new stake in ServiceTitan during the fourth quarter valued at about $30,000. Finally, Elevation Wealth Partners LLC purchased a new stake in ServiceTitan in the fourth quarter worth about $36,000.

ServiceTitan Stock Performance

The business has a 50-day simple moving average of $96.75 and a 200 day simple moving average of $100.45. 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 cap of $5.97 billion, a PE ratio of -15.62 and a beta of -0.86.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data 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 company had revenue of $249.16 million during the quarter, compared to the consensus estimate of $238.26 million. During the same period in the previous year, the company posted $0.75 EPS. The firm’s revenue was up 25.0% on a year-over-year basis. Equities research analysts forecast that ServiceTitan Inc. will post -1.98 EPS 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.