ServiceTitan (NASDAQ:TTAN) Trading 7.5% Higher – What’s Next?

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TTAN. KeyCorp lowered their price objective on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. William Blair reissued an “outperform” rating on shares of ServiceTitan in a research note on Friday, March 13th. BMO Capital Markets reduced their price target on shares of ServiceTitan from $108.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 13th. BTIG Research decreased their price target on shares of ServiceTitan from $130.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Finally, Piper Sandler dropped their price objective on shares of ServiceTitan from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. Sixteen 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $112.31.

ServiceTitan Trading Up 7.1%

The firm has a market cap of $5.97 billion, a price-to-earnings ratio of -36.43 and a beta of -0.23. The firm’s 50-day moving average is $64.61 and its 200-day moving average is $80.65.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On ServiceTitan

Several large investors have recently bought and sold shares of TTAN. Cloud Capital Management LLC purchased a new position in ServiceTitan during the 3rd quarter worth $25,000. Toth Financial Advisory Corp raised its holdings in shares of ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares in the last quarter. eCIO Inc. purchased a new position in ServiceTitan during the fourth quarter worth about $30,000. Finally, Elevation Wealth Partners LLC purchased a new position in ServiceTitan during 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.