ServiceTitan (NASDAQ:TTAN) Trading Down 4% – Should You Sell?

ServiceTitan Inc. (NASDAQ:TTAN)’s share price traded down 4% during trading on Tuesday . The stock traded as low as $91.53 and last traded at $91.8210. Approximately 367,806 shares were traded during trading, a decline of 74% from the average session volume of 1,428,696 shares. The stock had previously closed at $95.64.

Wall Street Analysts Forecast Growth

TTAN has been the subject of a number of research reports. Truist Financial reissued a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Citigroup restated a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of ServiceTitan in a research note on Wednesday, June 17th. Piper Sandler lifted their price objective on shares of ServiceTitan from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a research report on Monday. Fourteen equities research 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.93.

ServiceTitan Price Performance

The firm has a market capitalization of $8.80 billion, a P/E ratio of -63.61 and a beta of 0.02. The business has a 50 day moving average price of $79.81 and a 200 day moving average price of $70.77.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The firm had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. During the same quarter last year, the firm posted $0.18 EPS. The company’s revenue was up 24.6% on a year-over-year basis. As a group, equities analysts expect that ServiceTitan Inc. will post -0.54 EPS for the current year.

Insider Transactions at ServiceTitan

In other news, President Vahe Kuzoyan sold 16,388 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $88.95, for a total transaction of $1,457,712.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michele O’connor sold 4,910 shares of ServiceTitan stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $80.93, for a total value of $397,366.30. Following the sale, the chief accounting officer directly owned 71,676 shares in the company, valued at approximately $5,800,738.68. This trade represents a 6.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 524,837 shares of company stock worth $39,894,622. 39.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Woodline Partners LP increased its holdings in ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after buying an additional 95 shares during the period. Cetera Investment Advisers acquired a new stake in ServiceTitan during the second quarter valued at approximately $345,000. Russell Investments Group Ltd. bought a new stake in shares of ServiceTitan in the 2nd quarter valued at approximately $500,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after buying an additional 392 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in ServiceTitan in the second 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.