ServiceTitan (NASDAQ:TTAN) Trading Up 10% – Here’s Why

ServiceTitan Inc. (NASDAQ:TTAN) shares were up 10% on Thursday . The stock traded as high as $72.87 and last traded at $72.74. Approximately 1,266,345 shares traded hands during trading, a decline of 17% from the average daily volume of 1,526,961 shares. The stock had previously closed at $66.11.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. TD Cowen reiterated a “buy” rating on shares of ServiceTitan in a report on Monday. BTIG Research began coverage on shares of ServiceTitan in a report on Tuesday, December 16th. They issued a “buy” rating and a $130.00 price objective for the company. Wells Fargo & Company lowered their target price on ServiceTitan from $140.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a report on Monday, December 29th. Finally, Piper Sandler dropped their price target on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.13.

ServiceTitan Stock Down 1.6%

The company has a market cap of $6.78 billion, a P/E ratio of -17.74 and a beta of -0.86. The company’s 50-day moving average is $85.45 and its two-hundred day moving average is $95.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14.

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, beating the consensus estimate of $0.15 by $0.09. The business had revenue of $249.16 million for the quarter, compared to analysts’ expectations of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. As a group, equities analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Activity at ServiceTitan

In other news, CFO David Sherry sold 833 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $91.30, for a total transaction of $76,052.90. Following the transaction, the chief financial officer directly owned 330,948 shares of the company’s stock, valued at $30,215,552.40. This represents a 0.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock in a transaction on Monday, January 5th. The stock was sold at an average price of $100.62, for a total value of $1,648,960.56. Following the completion of the sale, the president directly owned 1 shares of the company’s stock, valued at $100.62. The trade was a 99.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 216,371 shares of company stock valued at $22,700,994. Insiders own 51.72% of the company’s stock.

Institutional Trading of ServiceTitan

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in ServiceTitan by 538.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after buying an additional 3,735,968 shares in the last quarter. Truist Financial Corp grew its holdings in shares of ServiceTitan by 84.3% in the third quarter. Truist Financial Corp now owns 42,789 shares of the company’s stock valued at $4,314,000 after purchasing an additional 19,577 shares in the last quarter. Thornburg Investment Management Inc. bought a new stake in ServiceTitan in the third quarter worth $8,338,000. Rakuten Investment Management Inc. purchased a new stake in ServiceTitan during the third quarter valued at $5,376,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in ServiceTitan during the third quarter valued at $941,000.

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.