BTIG Research Has Lowered Expectations for ServiceTitan (NASDAQ:TTAN) Stock Price

ServiceTitan (NASDAQ:TTAN) had its price objective decreased by BTIG Research from $105.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 44.12% from the company’s current price.

Several other research firms have also recently weighed in on TTAN. Citigroup cut their price objective on shares of ServiceTitan from $117.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a report on Friday, April 24th. KeyCorp cut their price target on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, March 13th. William Blair reaffirmed an “outperform” rating on shares of ServiceTitan in a report on Friday, March 13th. Finally, TD Cowen upped their price target on shares of ServiceTitan from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Sixteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $111.38.

ServiceTitan Price Performance

ServiceTitan stock opened at $62.45 on Wednesday. The stock’s fifty day moving average price is $63.89 and its two-hundred day moving average price is $80.15. ServiceTitan has a one year low of $54.17 and a one year high of $130.21. The firm has a market cap of $5.95 billion, a PE ratio of -36.31 and a beta of -0.23.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.27 EPS 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 firm had revenue of $253.99 million for the quarter, compared to analyst estimates of $245.47 million. During the same quarter last year, the company earned $0.12 EPS. The company’s revenue was up 21.4% on a year-over-year basis. Sell-side analysts expect that ServiceTitan will post -0.62 earnings per share for the current fiscal year.

Insider Activity at ServiceTitan

In other ServiceTitan news, CAO Michele O’connor sold 5,000 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $58.93, for a total value of $294,650.00. Following the completion of the transaction, the chief accounting officer directly owned 79,416 shares in the company, valued at approximately $4,679,984.88. This trade represents a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Vahe Kuzoyan sold 3,220 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $224,949.20. Following the completion of the transaction, the president owned 1 shares of the company’s stock, valued at $69.86. This represents a 99.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 33,440 shares of company stock worth $2,281,468. Corporate 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 the company. Cloud Capital Management LLC bought a new stake in ServiceTitan during the 3rd quarter worth approximately $25,000. Toth Financial Advisory Corp grew its holdings in ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after acquiring an additional 150 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 174 shares during the last quarter. eCIO Inc. bought a new stake in ServiceTitan during the 4th quarter worth approximately $30,000. Finally, Elevation Wealth Partners LLC bought a new stake in ServiceTitan during the 4th quarter worth approximately $36,000.

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.