ServiceTitan (NASDAQ:TTAN) Stock Price Down 4.1% – Should You Sell?

ServiceTitan Inc. (NASDAQ:TTAN)’s share price was down 4.1% during mid-day trading on Thursday . The company traded as low as $56.40 and last traded at $56.2750. Approximately 2,443,502 shares changed hands during trading, an increase of 46% from the average daily volume of 1,674,176 shares. The stock had previously closed at $58.67.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TTAN shares. Citigroup lowered their target price on shares of ServiceTitan from $83.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, September 9th. Robert W. Baird lowered their price objective on shares of ServiceTitan from $101.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. KeyCorp cut their target price on shares of ServiceTitan from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Weiss Ratings downgraded ServiceTitan from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 9th. Finally, Piper Sandler cut their price objective on ServiceTitan from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. Fourteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.38.

ServiceTitan Stock Down 6.6%

The firm has a market capitalization of $5.23 billion, a P/E ratio of -40.33 and a beta of 0.11. The firm has a 50 day moving average of $82.22 and a 200-day moving average of $72.30.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $292.76 million for the quarter, compared to the consensus estimate of $285.89 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. As a group, research analysts expect that ServiceTitan Inc. will post -0.53 EPS for the current year.

Insider Transactions at ServiceTitan

In related news, President Vahe Kuzoyan sold 114,732 shares of ServiceTitan stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $88.84, for a total transaction of $10,192,790.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Sherry sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $90.83, for a total transaction of $817,470.00. Following the transaction, the chief financial officer 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 483,105 shares of company stock valued at $37,102,881. Company insiders own 39.89% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC increased its stake in shares of ServiceTitan by 598.9% in the second quarter. Tidal Investments LLC now owns 27,963 shares of the company’s stock valued at $1,977,000 after buying an additional 23,962 shares during the period. Whetstone Capital Advisors LLC bought a new stake in shares of ServiceTitan in the second quarter worth $3,275,000. WINTON GROUP Ltd acquired a new position in ServiceTitan during the 2nd quarter worth about $5,218,000. Integrated Wealth Concepts LLC acquired a new stake in shares of ServiceTitan in the second quarter valued at about $115,000. Finally, NewEdge Advisors LLC raised its position in shares of ServiceTitan by 7,677.2% during the second quarter. NewEdge Advisors LLC now owns 8,866 shares of the company’s stock worth $627,000 after acquiring an additional 8,752 shares during the last quarter.

ServiceTitan Company Profile

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company’s products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.