ServiceTitan (NASDAQ:TTAN) Shares Down 10.8% – What’s Next?

ServiceTitan Inc. (NASDAQ:TTAN)’s stock price dropped 10.8% during mid-day trading on Thursday . The company traded as low as $81.68 and last traded at $81.68. Approximately 624,269 shares traded hands during trading, a decline of 39% from the average daily volume of 1,017,586 shares. The stock had previously closed at $91.57.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a report on Tuesday, December 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a report on Monday, December 29th. UBS Group reissued a “buy” rating on shares of ServiceTitan in a report on Monday, December 1st. Truist Financial set a $130.00 price target on ServiceTitan in a research report on Tuesday, October 21st. Finally, Piper Sandler dropped their target price on shares of ServiceTitan from $155.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.31.

ServiceTitan Stock Down 11.5%

The business has a 50-day moving average of $99.28 and a 200-day moving average of $102.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. The stock has a market capitalization of $7.59 billion and a price-to-earnings ratio of -19.86.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The business had revenue of $249.16 million for the quarter, compared to the consensus estimate of $238.26 million. During the same period in the previous year, the firm earned $0.75 EPS. The business’s revenue was up 25.0% on a year-over-year basis. On average, sell-side analysts expect that ServiceTitan Inc. will post -1.98 EPS for the current year.

Insider Activity

In other ServiceTitan news, President Vahe Kuzoyan sold 16,388 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $102.82, for a total value of $1,685,014.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ara Mahdessian sold 88,525 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $107.56, for a total value of $9,521,749.00. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 355,202 shares of company stock worth $35,405,269. 51.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ServiceTitan

Institutional investors have recently modified their holdings of the company. Pictet Asset Management Holding SA purchased a new stake in ServiceTitan during the fourth quarter worth approximately $376,000. UBS Group AG lifted its stake in ServiceTitan by 6.8% in the fourth quarter. UBS Group AG now owns 114,028 shares of the company’s stock valued at $12,144,000 after buying an additional 7,254 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of ServiceTitan by 61.2% in the fourth quarter. Sanctuary Advisors LLC now owns 18,771 shares of the company’s stock valued at $1,999,000 after acquiring an additional 7,126 shares during the period. Quent Capital LLC acquired a new position in shares of ServiceTitan in the 4th quarter valued at $1,172,000. Finally, Vanguard Group Inc. boosted its stake in ServiceTitan by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after purchasing an additional 439,079 shares during the period.

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.