ServiceTitan (NASDAQ:TTAN) Reaches New 1-Year Low – What’s Next?

ServiceTitan Inc. (NASDAQ:TTAN) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $57.81 and last traded at $58.6250, with a volume of 980386 shares trading hands. The stock had previously closed at $62.12.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TTAN. BMO Capital Markets reduced their price objective on ServiceTitan from $108.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, March 13th. Piper Sandler reissued an “overweight” rating and set a $120.00 price objective on shares of ServiceTitan in a research report on Friday, March 13th. KeyCorp reduced their price objective on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. The Goldman Sachs Group reduced their price objective on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Finally, Needham & Company LLC reduced their price objective on ServiceTitan from $140.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Sixteen investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $113.56.

ServiceTitan Stock Down 5.6%

The business has a 50-day simple moving average of $68.00 and a two-hundred day simple moving average of $87.60. The company has a market cap of $5.49 billion, a price-to-earnings ratio of -34.08 and a beta of -0.14.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.27 earnings per share for the quarter, topping 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 company had revenue of $253.99 million during the quarter, compared to analysts’ expectations of $245.47 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Insider Buying and Selling

In other ServiceTitan news, CAO Michele O’connor sold 5,154 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $360,058.44. Following the completion of the sale, the chief accounting officer owned 84,416 shares of the company’s stock, valued at $5,897,301.76. The trade was a 5.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Vahe Kuzoyan sold 3,220 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $224,949.20. Following the completion of the sale, the president directly owned 1 shares of the company’s stock, valued at $69.86. This represents a 99.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 61,418 shares of company stock worth $5,227,669 over the last ninety days. 51.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ServiceTitan

A number of institutional investors have recently made changes to their positions in TTAN. Cloud Capital Management LLC bought a new position in shares of ServiceTitan in the third quarter worth about $25,000. Toth Financial Advisory Corp increased its stake in shares of ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares during the period. Farther Finance Advisors LLC increased its stake in shares of 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 period. eCIO Inc. bought a new position in shares of ServiceTitan in the fourth quarter worth about $30,000. Finally, Elevation Wealth Partners LLC bought a new position in shares of ServiceTitan in the fourth quarter worth about $36,000.

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.