ServiceTitan (NASDAQ:TTAN) Shares Down 5.6% – Here’s What Happened

ServiceTitan Inc. (NASDAQ:TTAN)’s share price traded down 5.6% on Tuesday . The stock traded as low as $99.08 and last traded at $100.35. 258,026 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 699,227 shares. The stock had previously closed at $106.34.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of ServiceTitan in a research report on Tuesday. They issued a “neutral” rating and a $117.00 price target for the company. BMO Capital Markets boosted their target price on shares of ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. Truist Financial set a $130.00 target price on ServiceTitan in a report on Tuesday, October 21st. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ServiceTitan has an average rating of “Moderate Buy” and an average price target of $135.31.

ServiceTitan Trading Down 7.1%

The business’s 50-day simple moving average is $99.08 and its 200-day simple moving average is $103.60. The company has a market cap of $8.44 billion and a PE ratio of -22.09. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Thursday, December 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.15 by $0.09. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The business had revenue of $249.16 million for the quarter, compared to analysts’ expectations of $238.26 million. During the same period in the previous year, the company posted $0.75 EPS. ServiceTitan’s revenue was up 25.0% on a year-over-year basis. As a group, analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Insider Activity

In other news, President Vahe Kuzoyan sold 16,388 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $102.82, for a total transaction of $1,685,014.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ara Mahdessian sold 88,525 shares of ServiceTitan stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total value of $9,521,749.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 355,910 shares of company stock worth $35,476,141. Insiders own 51.72% of the company’s stock.

Institutional Trading of ServiceTitan

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of ServiceTitan by 538.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after purchasing an additional 3,735,968 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in ServiceTitan by 118.4% in the third quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after purchasing an additional 1,569,136 shares in the last quarter. Franklin Resources Inc. increased its position in ServiceTitan by 148.4% during the second quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock worth $202,917,000 after buying an additional 1,131,062 shares during the last quarter. Invesco Ltd. raised its holdings in ServiceTitan by 1,388.2% during the second quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock valued at $158,344,000 after buying an additional 1,378,100 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in ServiceTitan by 116.6% during the third quarter. Artisan Partners Limited Partnership now owns 1,098,329 shares of the company’s stock valued at $110,745,000 after buying an additional 591,213 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.