ServiceTitan (NASDAQ:TTAN) Shares Gap Down Following Analyst Downgrade

ServiceTitan Inc. (NASDAQ:TTAN)’s stock price gapped down prior to trading on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $117.00 to $84.00. The stock had previously closed at $70.91, but opened at $68.66. The Goldman Sachs Group currently has a neutral rating on the stock. ServiceTitan shares last traded at $71.1940, with a volume of 200,938 shares traded.

TTAN has been the subject of a number of other reports. KeyCorp lowered their price target on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research note on Monday, December 1st. BTIG Research lowered their target price on shares of ServiceTitan from $130.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Canaccord Genuity Group dropped their price target on ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Piper Sandler restated an “overweight” rating and issued a $120.00 price target on shares of ServiceTitan in a research note on Friday. Sixteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ServiceTitan presently has an average rating of “Moderate Buy” and an average target price of $113.56.

Insider Activity

In other ServiceTitan news, CAO Michele O’connor sold 1,678 shares of ServiceTitan stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total value of $176,693.40. Following the completion of the sale, the chief accounting officer owned 89,571 shares of the company’s stock, valued at approximately $9,431,826.30. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ara Mahdessian sold 32,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $98.50, for a total value of $3,152,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,792 shares of company stock valued at $6,935,369 in the last quarter. Insiders own 51.72% of the company’s stock.

Key ServiceTitan News

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: SPS PoolCare (largest U.S. residential pool-services platform) will standardize 30+ branch locations across five states on ServiceTitan, a meaningful enterprise customer win that supports recurring SaaS revenue, account expansion and ServiceTitan’s roll-up/scale narrative. SPS PoolCare Expands Enterprise Technology Platform with ServiceTitan
• Positive Sentiment: Piper Sandler reiterated an Overweight rating on TTAN, which supports demand for the shares among growth-focused institutional holders. ServiceTitan’s (TTAN) Overweight Rating Reiterated at Piper Sandler
• Positive Sentiment: One analyst raised their price target to $135, an isolated bullish signal that shows some firms still see upside to longer-term revenue/margin recovery. ServiceTitan (NASDAQ:TTAN) Price Target Raised to $135.00
• Neutral Sentiment: KeyCorp cut its price target to $120 — a downgrade in target but still above current trading levels, making the near-term impact ambiguous for investors balancing valuation vs. growth. KeyCorp Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $120.00
• Negative Sentiment: Goldman Sachs cut its price target from $117 to $84 and moved to a “neutral” rating — a notable negative because GS is a high-profile shop and their new target is well below recent trading levels. Goldman Sachs Lowers ServiceTitan Price Target
• Negative Sentiment: Citigroup lowered its target to $88, another cut that reduces consensus upside and contributes to downward pressure. Citigroup Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $88.00
• Negative Sentiment: Multiple other firms trimmed targets (Canaccord to $105, Needham to $100, Truist to $100, Wells Fargo to $115, Morgan Stanley to $118), layering bearish analyst signals that weigh on sentiment. Canaccord Genuity Group Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $105.00 Needham & Company LLC Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $100.00 Truist Financial Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $100.00 Wells Fargo Cuts ServiceTitan Price Target to $115.00 Morgan Stanley Cuts ServiceTitan Price Target to $118.00

Hedge Funds Weigh In On ServiceTitan

A number of hedge funds have recently bought and sold shares of TTAN. 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 valued at $204,000 after acquiring an additional 95 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of ServiceTitan by 16.1% during the third quarter. PNC Financial Services Group Inc. now owns 858 shares of the company’s stock valued at $87,000 after purchasing an additional 119 shares during the last quarter. 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 during the period. Farther Finance Advisors LLC boosted its holdings in ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 174 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in ServiceTitan by 30.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after purchasing an additional 209 shares during the period.

ServiceTitan Stock Performance

The firm has a market cap of $6.66 billion, a P/E ratio of -41.33 and a beta of -0.71. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. The business’s 50-day simple moving average is $78.85 and its 200 day simple moving average is $93.18.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. ServiceTitan had a negative return on equity of 6.91% and a negative net margin of 16.64%.The firm had revenue of $253.99 million for the quarter, compared to the consensus estimate of $245.47 million. During the same period last year, the business posted $0.12 EPS. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. As a group, equities 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.