ServiceTitan Inc. (NASDAQ:TTAN) Short Interest Update

ServiceTitan Inc. (NASDAQ:TTAN) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 5,169,716 shares, a growth of 23.3% from the December 15th total of 4,194,489 shares. Based on an average trading volume of 774,393 shares, the days-to-cover ratio is presently 6.7 days. Currently, 11.4% of the company’s stock are sold short. Currently, 11.4% of the company’s stock are sold short. Based on an average trading volume of 774,393 shares, the days-to-cover ratio is presently 6.7 days.

ServiceTitan Stock Up 0.7%

TTAN stock opened at $90.78 on Tuesday. The stock has a market capitalization of $8.50 billion and a price-to-earnings ratio of -22.25. The company has a 50-day moving average of $98.92 and a two-hundred day moving average of $103.27. ServiceTitan has a 52-week low of $79.81 and a 52-week high of $131.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, December 4th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The business had revenue of $249.16 million for the quarter, compared to analyst estimates of $238.26 million. During the same period in the previous year, the company posted $0.75 earnings per share. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceTitan will post -1.98 EPS for the current year.

Wall Street Analyst Weigh In

TTAN has been the subject of several recent research reports. TD Cowen boosted their target price on shares of ServiceTitan from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. BMO Capital Markets lifted their price objective on shares of ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research report on Tuesday, December 16th. Cowen reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Friday, December 5th. Finally, BTIG Research initiated coverage on ServiceTitan in a report on Tuesday, December 16th. They set a “buy” rating and a $130.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceTitan presently has an average rating of “Moderate Buy” and an average target price of $135.31.

Insider Transactions at ServiceTitan

In other ServiceTitan news, CEO Ara Mahdessian sold 32,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $98.50, for a total value of $3,152,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Vahe Kuzoyan sold 16,388 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $100.62, for a total value of $1,648,960.56. Following the sale, the president directly owned 1 shares of the company’s stock, valued at $100.62. This trade represents a 99.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 354,224 shares of company stock worth $35,316,418 in the last ninety days. Company insiders own 51.72% of the company’s stock.

Hedge Funds Weigh In On ServiceTitan

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cloud Capital Management LLC bought a new stake in ServiceTitan in the 3rd quarter valued at $25,000. Elevation Wealth Partners LLC bought a new stake in shares of ServiceTitan in the fourth quarter valued at about $36,000. Northwestern Mutual Wealth Management Co. grew its position in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after buying an additional 392 shares in the last quarter. Whittier Trust Co. bought a new position in ServiceTitan during the third quarter valued at about $52,000. Finally, Parallel Advisors LLC raised its holdings in ServiceTitan by 161.7% in the 3rd quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock valued at $53,000 after acquiring an additional 325 shares in the last quarter.

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.