ServiceTitan (NASDAQ:TTAN) Trading Up 7.5% – Here’s Why

Shares of ServiceTitan Inc. (NASDAQ:TTAN) were up 7.5% on Monday . The company traded as high as $62.92 and last traded at $62.90. Approximately 1,114,838 shares changed hands during trading, a decline of 16% from the average daily volume of 1,327,919 shares. The stock had previously closed at $58.52.

Analyst Ratings Changes

A number of research analysts recently weighed in on TTAN shares. KeyCorp decreased their target price on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Citigroup decreased their target price on ServiceTitan from $117.00 to $88.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. TD Cowen boosted their target price on ServiceTitan from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, March 13th. The Goldman Sachs Group decreased their target price on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. Finally, Canaccord Genuity Group decreased their target price on ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Sixteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.38.

ServiceTitan Stock Performance

The business has a fifty day simple moving average of $63.89 and a 200 day simple moving average of $80.15. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of -36.50 and a beta of -0.23.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The firm had revenue of $253.99 million for the quarter, compared to analyst estimates of $245.47 million. During the same period in the prior year, the firm posted $0.12 EPS. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, sell-side analysts forecast that ServiceTitan Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at ServiceTitan

In other ServiceTitan news, CEO Ara Mahdessian sold 2,288 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $159,839.68. Following the transaction, the chief executive officer directly owned 1 shares of the company’s stock, valued at $69.86. This represents a 99.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Michele O’connor sold 5,154 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $360,058.44. Following the completion of the transaction, the chief accounting officer directly owned 84,416 shares in the company, valued at approximately $5,897,301.76. This represents a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 33,440 shares of company stock valued at $2,281,468. Corporate insiders own 39.89% of the company’s stock.

Institutional Trading of ServiceTitan

Several large investors have recently modified their holdings of the stock. Woodline Partners LP grew 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 purchasing an additional 95 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of ServiceTitan by 16.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 858 shares of the company’s stock worth $87,000 after purchasing an additional 119 shares in the last quarter. Toth Financial Advisory Corp grew its holdings in shares of 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 purchasing an additional 150 shares in the last quarter. Farther Finance Advisors LLC grew its holdings 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 purchasing an additional 174 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of ServiceTitan by 30.0% during 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 in the last quarter.

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.