ServiceTitan Inc. (NASDAQ:TTAN) Sees Significant Increase in Short Interest

ServiceTitan Inc. (NASDAQ:TTAN) was the target of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 5,842,634 shares, an increase of 34.1% from the January 29th total of 4,356,626 shares. Approximately 12.9% of the shares of the company are short sold. Based on an average daily volume of 2,343,598 shares, the short-interest ratio is currently 2.5 days. Based on an average daily volume of 2,343,598 shares, the short-interest ratio is currently 2.5 days. Approximately 12.9% of the shares of the company are short sold.

ServiceTitan Trading Up 1.5%

Shares of NASDAQ:TTAN opened at $75.78 on Wednesday. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $7.10 billion, a PE ratio of -18.57 and a beta of -0.72. ServiceTitan has a 1 year low of $58.01 and a 1 year high of $131.33. The firm has a fifty day moving average price of $84.06 and a 200 day moving average price of $94.92.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.09. The company had revenue of $249.16 million for the quarter, compared to analyst estimates of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The business’s revenue was up 25.0% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. Analysts expect that ServiceTitan will post -1.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company cut their price objective on ServiceTitan from $140.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. UBS Group reissued a “buy” rating on shares of ServiceTitan in a research report on Monday, December 1st. The Goldman Sachs Group started coverage on shares of ServiceTitan in a research report on Tuesday, January 13th. They issued a “neutral” rating and a $117.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 29th. Finally, Morgan Stanley boosted their target price on shares of ServiceTitan from $118.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ServiceTitan has a consensus rating of “Moderate Buy” and a consensus price target of $133.13.

Insider Buying and Selling

In related news, CFO David Sherry sold 833 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $91.30, for a total transaction of $76,052.90. Following the sale, the chief financial officer owned 330,948 shares of the company’s stock, valued at $30,215,552.40. The trade was a 0.25% 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, CEO Ara Mahdessian sold 32,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $98.50, for a total value of $3,152,000.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 216,371 shares of company stock valued at $22,700,994. 51.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ServiceTitan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTAN. Cloud Capital Management LLC acquired a new stake in shares of ServiceTitan in the third quarter worth $25,000. Toth Financial Advisory Corp grew its stake in ServiceTitan by 150.0% in the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in ServiceTitan by 189.1% in 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 period. eCIO Inc. bought a new position in ServiceTitan in the 4th quarter worth $30,000. Finally, Elevation Wealth Partners LLC acquired a new position in ServiceTitan during the 4th quarter worth $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.