ServiceTitan (NASDAQ:TTAN) Shares Up 8.1% – Still a Buy?

ServiceTitan Inc. (NASDAQ:TTAN)’s share price traded up 8.1% on Thursday . The company traded as high as $99.80 and last traded at $99.68. Approximately 556,867 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 1,421,241 shares. The stock had previously closed at $92.23.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TTAN shares. Weiss Ratings raised shares of ServiceTitan from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of ServiceTitan in a research note on Wednesday, June 17th. Robert W. Baird raised their price objective on ServiceTitan from $94.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research report on Monday. Finally, Stifel Nicolaus set a $125.00 target price on ServiceTitan in a report on Wednesday, May 27th. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.93.

ServiceTitan Trading Down 0.8%

The firm’s 50-day moving average is $81.25 and its 200 day moving average is $71.23. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of -68.88 and a beta of 0.02.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. The firm had revenue of $268.82 million during 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 company’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 EPS. Analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Michele O’connor sold 4,910 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.93, for a total value of $397,366.30. Following the completion of the sale, the chief accounting officer directly owned 71,676 shares in the company, valued at $5,800,738.68. This represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David Sherry sold 9,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $90.83, for a total value of $817,470.00. Following the transaction, the chief financial officer directly owned 386,757 shares of the company’s stock, valued at approximately $35,129,138.31. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 524,837 shares of company stock valued at $39,894,622 over the last ninety days. 39.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ServiceTitan

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Woodline Partners LP increased its position in ServiceTitan by 4.6% during the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after purchasing an additional 95 shares during the period. Cetera Investment Advisers acquired a new position in shares of ServiceTitan in the 2nd quarter worth approximately $345,000. Russell Investments Group Ltd. acquired a new position in shares of ServiceTitan in the 2nd quarter worth approximately $500,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 392 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of ServiceTitan in the 2nd quarter valued at $393,000.

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.