ServiceTitan (NASDAQ:TTAN) Stock Price Up 8.4% – What’s Next?

ServiceTitan Inc. (NASDAQ:TTAN)’s share price shot up 8.4% during trading on Tuesday . The stock traded as high as $81.04 and last traded at $81.2260. 197,905 shares were traded during trading, a decline of 86% from the average session volume of 1,452,746 shares. The stock had previously closed at $74.92.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TTAN shares. Robert W. Baird lifted their price objective on ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a report on Monday, June 8th. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, May 26th. Truist Financial restated a “buy” rating and issued a $110.00 price target (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research note on Tuesday, July 21st. Fifteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.53.

ServiceTitan Trading Up 7.1%

The stock has a market capitalization of $7.65 billion, a P/E ratio of -55.38 and a beta of 0.13. The company has a 50-day moving average price of $70.92 and a 200 day moving average price of $70.88.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The company had revenue of $268.82 million for the quarter, compared to the consensus estimate of $257.40 million. During the same quarter last year, the company earned $0.18 earnings per share. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, research analysts expect that ServiceTitan Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling at ServiceTitan

In other news, Director Byron B. Deeter sold 8,845 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.35, for a total value of $560,330.75. Following the sale, the director directly owned 13,782 shares in the company, valued at approximately $873,089.70. This trade represents a 39.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William J.G. Griffith sold 94,415 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the completion of the sale, the director owned 443,221 shares in the company, valued at $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 296,664 shares of company stock valued at $19,958,797. 39.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceTitan

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in ServiceTitan by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock valued at $518,549,000 after buying an additional 439,079 shares during the last quarter. Renaissance Capital LLC increased its stake in shares of ServiceTitan by 222.8% in the fourth quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock worth $4,390,000 after acquiring an additional 28,454 shares during the period. Zevenbergen Capital Investments LLC purchased a new stake in ServiceTitan in the fourth quarter valued at $4,281,000. Comerica Bank boosted its stake in shares of ServiceTitan by 372.3% in the fourth quarter. Comerica Bank now owns 26,513 shares of the company’s stock worth $2,824,000 after buying an additional 20,899 shares during the last quarter. Finally, Robeco Schweiz AG boosted its position in ServiceTitan by 35.3% in the 4th quarter. Robeco Schweiz AG now owns 83,200 shares of the company’s stock worth $8,861,000 after purchasing an additional 21,700 shares in the last quarter.

About ServiceTitan

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.