ServiceTitan (NASDAQ:TTAN) Stock Price Up 7% – What’s Next?

ServiceTitan Inc. (NASDAQ:TTAN) shares were up 7% during trading on Friday . The stock traded as high as $67.45 and last traded at $67.8090. 186,935 shares changed hands during trading, a decline of 87% from the average daily volume of 1,386,214 shares. The stock had previously closed at $63.40.

Wall Street Analyst Weigh In

TTAN has been the subject of a number of analyst reports. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a research note on Monday, June 8th. Stifel Nicolaus set a $125.00 price objective on shares of ServiceTitan in a research note on Wednesday, May 27th. Truist Financial restated a “buy” rating and set a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Piper Sandler raised their price target on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Finally, BMO Capital Markets boosted their price objective on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, June 5th. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $110.53.

ServiceTitan Stock Up 5.7%

The firm has a fifty day moving average of $64.82 and a 200-day moving average of $75.66. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of -46.29 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $268.82 million for the quarter, compared to analysts’ expectations of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS. As a group, research analysts forecast that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Michele O’connor sold 10,000 shares of ServiceTitan stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $69.14, for a total value of $691,400.00. Following the completion of the sale, the chief accounting officer owned 81,890 shares of the company’s stock, valued at $5,661,874.60. The trade was a 10.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J.G. Griffith sold 94,415 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45. Following the transaction, the director owned 443,221 shares in the company, valued at $28,113,508.03. This trade represents a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 244,807 shares of company stock worth $15,649,413 in the last 90 days. 39.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceTitan

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position 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 valued at $446,670,000 after acquiring an additional 3,735,968 shares in the last quarter. Thornburg Investment Management Inc. acquired a new position in ServiceTitan during the 3rd quarter valued at about $8,338,000. Sandhill Capital Partners LLC bought a new position in ServiceTitan in the 3rd quarter worth approximately $27,062,000. Renaissance Capital LLC grew its stake in shares of ServiceTitan by 222.8% in the fourth quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock worth $4,390,000 after purchasing an additional 28,454 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in ServiceTitan in the 3rd quarter valued at about $84,983,000.

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.