ServiceTitan (NASDAQ:TTAN) Stock Price Up 7.8% – Time to Buy?

ServiceTitan Inc. (NASDAQ:TTAN)’s share price shot up 7.8% on Monday . The stock traded as high as $58.94 and last traded at $58.9210. 3,737,592 shares were traded during mid-day trading, an increase of 130% from the average session volume of 1,624,622 shares. The stock had previously closed at $54.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group dropped their price objective on shares of ServiceTitan from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, September 9th. KeyCorp dropped their price target on ServiceTitan from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. BTIG Research restated a “buy” rating and issued a $110.00 price target on shares of ServiceTitan in a report on Wednesday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of ServiceTitan in a research report on Wednesday, September 9th. Finally, Morgan Stanley decreased their price objective on ServiceTitan from $124.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Fourteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $96.38.

ServiceTitan Stock Down 0.7%

The stock’s fifty day moving average is $82.61 and its two-hundred day moving average is $72.40. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of -43.09 and a beta of 0.11.

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

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CAO Michele O’connor sold 4,910 shares of ServiceTitan stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $80.93, for a total transaction of $397,366.30. Following the completion of the transaction, the chief accounting officer directly owned 71,676 shares of the company’s stock, valued at $5,800,738.68. The trade was a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Byron B. Deeter sold 8,845 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.35, for a total transaction of $560,330.75. Following the completion of the transaction, the director owned 13,782 shares in the company, valued at approximately $873,089.70. This represents a 39.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 483,105 shares of company stock worth $37,102,881. 39.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceTitan

A number of institutional investors have recently modified their holdings of the business. Tidal Investments LLC raised its position 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 in the last quarter. Whetstone Capital Advisors LLC bought a new position in ServiceTitan during the 2nd quarter worth $3,275,000. WINTON GROUP Ltd bought a new position in ServiceTitan during the 2nd quarter worth $5,218,000. Integrated Wealth Concepts LLC acquired a new position in ServiceTitan in the 2nd quarter valued at $115,000. Finally, NewEdge Advisors LLC raised its holdings in ServiceTitan by 7,677.2% in the 2nd quarter. NewEdge Advisors LLC now owns 8,866 shares of the company’s stock valued at $627,000 after acquiring an additional 8,752 shares in 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.