ServiceTitan Inc. $TTAN Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in ServiceTitan Inc. (NASDAQ:TTAN) by 32.0% in the fourth quarter, Holdings Channel reports. The fund owned 277,937 shares of the company’s stock after selling 130,581 shares during the period. BNP Paribas Financial Markets’ holdings in ServiceTitan were worth $29,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TTAN. Toth Financial Advisory Corp increased its holdings in shares of ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after buying an additional 150 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in ServiceTitan by 189.1% in the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 174 shares during the last quarter. eCIO Inc. acquired a new stake in ServiceTitan in the 4th quarter valued at approximately $30,000. Elevation Wealth Partners LLC purchased a new position in ServiceTitan in the 4th quarter valued at approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares during the period.

ServiceTitan News Roundup

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan reported Q1 earnings of $0.37 per share, topping the $0.28 consensus estimate, while revenue of $268.8 million also exceeded expectations. Article Title
• Positive Sentiment: The company’s first-quarter revenue grew 24.6% year over year, and gross profit increased 30.6%, suggesting solid demand and improving scale. Article Title
• Positive Sentiment: ServiceTitan also guided second-quarter revenue to $284 million-$286 million, above the consensus estimate, and reiterated a full-year revenue outlook that is in line with expectations. Article Title
• Neutral Sentiment: Analysts and recent price targets remain constructive overall, with several firms maintaining buy or overweight ratings and a median target above the current trading range. Article Title
• Negative Sentiment: Despite the beat, ServiceTitan still posted a negative net margin and loss-making operations, which may limit enthusiasm for the stock until profitability improves. Article Title
• Negative Sentiment: Some reporting noted a negative after-hours reaction and significant insider selling over the past six months, which could weigh on sentiment even after the strong earnings release. Article Title

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. Morgan Stanley cut their target price on ServiceTitan from $131.00 to $118.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. William Blair reaffirmed an “outperform” rating on shares of ServiceTitan in a report on Friday, March 13th. BMO Capital Markets reduced their target price 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. Finally, BTIG Research cut their price target on shares of ServiceTitan from $105.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Fifteen 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $107.80.

Insider Activity

In related news, CAO Michele O’connor sold 5,154 shares of the company’s 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 transaction, the chief accounting officer owned 84,416 shares of the company’s stock, valued at approximately $5,897,301.76. This represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ara Mahdessian sold 2,288 shares of the company’s 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 $159,839.68. Following the transaction, the chief executive officer directly owned 1 shares in the company, valued at $69.86. The trade was a 99.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 33,440 shares of company stock worth $2,281,468. 39.89% of the stock is currently owned by corporate insiders.

ServiceTitan Price Performance

TTAN stock opened at $74.33 on Friday. The company’s 50 day simple moving average is $62.95 and its 200-day simple moving average is $78.04. The firm has a market capitalization of $7.08 billion, a PE ratio of -43.21 and a beta of 0.13. ServiceTitan Inc. has a 12 month low of $54.17 and a 12 month high of $119.99.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. The business had revenue of $268.82 million for the quarter, compared to analyst estimates of $256.65 billion. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.86%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 earnings per share. As a group, sell-side analysts anticipate that ServiceTitan Inc. will post -0.62 earnings per share for the current year.

ServiceTitan 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.