ServiceTitan (NASDAQ:TTAN) Sets New 12-Month Low – Here’s Why

Shares of ServiceTitan Inc. (NASDAQ:TTAN) 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 trading hands. The stock had previously closed at $64.66.

Wall Street Analysts Forecast Growth

TTAN has been the topic of a number of research analyst reports. The Goldman Sachs Group began coverage on shares of ServiceTitan in a research note on Tuesday, January 13th. They issued a “neutral” rating and a $117.00 price target on the stock. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, December 16th. BMO Capital Markets boosted their target price on ServiceTitan from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Morgan Stanley upped their price target on shares of ServiceTitan from $118.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, December 5th. Finally, Truist Financial set a $130.00 price objective on shares of ServiceTitan in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.13.

ServiceTitan Trading Down 9.3%

The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of -14.37 and a beta of -0.86. 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 business’s 50-day simple moving average is $95.73 and its two-hundred day simple moving average is $99.46.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.09. The company had revenue of $249.16 million during 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 business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. On average, research analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO David Sherry sold 833 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $91.30, for a total value of $76,052.90. Following the transaction, the chief financial officer owned 330,948 shares in the company, valued at approximately $30,215,552.40. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ara Mahdessian sold 32,000 shares of ServiceTitan stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $98.50, for a total transaction of $3,152,000.00. The SEC filing for this sale provides additional information. Insiders sold a total of 217,204 shares of company stock valued at $22,772,799 in the last three months. 51.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Cloud Capital Management LLC acquired a new position in ServiceTitan in the third quarter valued at approximately $25,000. Toth Financial Advisory Corp boosted its position in ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after acquiring an additional 150 shares during the period. Farther Finance Advisors LLC raised its position in shares of ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 174 shares in the last quarter. eCIO Inc. acquired a new position in shares of ServiceTitan during the fourth quarter valued at approximately $30,000. Finally, Elevation Wealth Partners LLC bought a new position in ServiceTitan during the 4th quarter valued at $36,000.

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.