ServiceTitan (NASDAQ:TTAN) Stock Price Down 6% – Time to Sell?

ServiceTitan Inc. (NASDAQ:TTAN)’s share price was down 6% during trading on Monday . The company traded as low as $72.77 and last traded at $72.7360. Approximately 545,790 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 1,379,658 shares. The stock had previously closed at $77.40.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TTAN shares. BMO Capital Markets raised their target price on ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday. BTIG Research raised their price target on ServiceTitan from $90.00 to $110.00 and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a report on Wednesday, May 27th. Wells Fargo & Company decreased their price target on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Finally, The Goldman Sachs Group decreased their price target on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. Fifteen investment 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. According to data from MarketBeat, ServiceTitan presently has an average rating of “Moderate Buy” and an average target price of $110.53.

ServiceTitan Price Performance

The stock has a market cap of $7.06 billion, a PE ratio of -51.21 and a beta of 0.12. The stock has a 50-day moving average price of $63.24 and a two-hundred day moving average price of $77.99.

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. The firm had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. ServiceTitan had a negative return on equity of 5.64% and a negative net margin of 13.44%.The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. Equities research analysts expect that ServiceTitan Inc. will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Ara Mahdessian sold 2,288 shares of ServiceTitan stock in a transaction dated Wednesday, March 18th. The stock was 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 approximately $69.86. This trade represents a 99.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David Sherry sold 17,778 shares of ServiceTitan stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $1,241,971.08. Following the completion of the transaction, the chief financial officer owned 313,025 shares of the company’s stock, valued at approximately $21,867,926.50. This represents a 5.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 33,440 shares of company stock worth $2,281,468. Insiders own 39.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTAN. Vanguard Group Inc. boosted its position in shares of ServiceTitan by 538.4% during the third 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 during the period. JPMorgan Chase & Co. boosted its position in shares of ServiceTitan by 118.4% during the third quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after buying an additional 1,569,136 shares during the period. Norges Bank purchased a new position in shares of ServiceTitan during the fourth quarter valued at approximately $112,678,000. CIBC Bancorp USA Inc. purchased a new position in shares of ServiceTitan during the third quarter valued at approximately $84,983,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of ServiceTitan during the fourth quarter valued at approximately $89,702,000.

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.