ServiceTitan (NASDAQ:TTAN) Sets New 1-Year Low – Here’s What Happened

ServiceTitan Inc. (NASDAQ:TTAN) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $54.64 and last traded at $55.7850, with a volume of 124151 shares. The stock had previously closed at $57.50.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TTAN. Canaccord Genuity Group dropped their target price on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating for the company in a report on Friday, March 13th. The Goldman Sachs Group lowered their price objective on shares of ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a report on Monday, March 16th. BMO Capital Markets lowered their price objective on shares of ServiceTitan from $108.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 13th. KeyCorp dropped their price objective on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a report on Friday, April 24th. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ServiceTitan presently has a consensus rating of “Moderate Buy” and an average target price of $112.31.

ServiceTitan Stock Down 4.0%

The stock’s fifty day moving average price is $65.73 and its 200 day moving average price is $81.53. The stock has a market cap of $5.17 billion, a PE ratio of -32.10 and a beta of -0.23.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $253.99 million during the quarter, compared to the consensus estimate of $245.47 million. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.86%. The firm’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 EPS. On average, equities research analysts expect that ServiceTitan Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceTitan

In related news, President Vahe Kuzoyan sold 3,220 shares of ServiceTitan stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $224,949.20. Following the transaction, the president owned 1 shares in the company, valued at approximately $69.86. The trade was a 99.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michele O’connor sold 5,154 shares of ServiceTitan stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $360,058.44. Following the sale, the chief accounting officer owned 84,416 shares in the company, valued at approximately $5,897,301.76. The trade was a 5.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 33,440 shares of company stock worth $2,281,468. 39.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ServiceTitan

Several institutional investors and hedge funds have recently modified their holdings of TTAN. Woodline Partners LP grew its holdings in ServiceTitan by 4.6% during 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 in the last quarter. PNC Financial Services Group Inc. grew its holdings in ServiceTitan by 16.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 858 shares of the company’s stock valued at $87,000 after buying an additional 119 shares in the last quarter. 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 valued at $27,000 after buying an additional 150 shares in 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 valued at $28,000 after buying an additional 174 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in ServiceTitan by 30.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock valued at $96,000 after buying an additional 209 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.