ServiceTitan (NASDAQ:TTAN) Price Target Cut to $125.00 by Analysts at Wells Fargo & Company

ServiceTitan (NASDAQ:TTAN) had its target price dropped by Wells Fargo & Company from $140.00 to $125.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 90.35% from the stock’s previous close.

Other analysts also recently issued reports about the stock. TD Cowen reiterated a “buy” rating on shares of ServiceTitan in a research report on Friday, December 5th. The Goldman Sachs Group started coverage on ServiceTitan in a report on Tuesday, January 13th. They set a “neutral” rating and a $117.00 price target on the stock. Morgan Stanley increased their price objective on shares of ServiceTitan from $118.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, December 5th. BTIG Research initiated coverage on ServiceTitan in a report on Tuesday, December 16th. They set a “buy” rating and a $130.00 target price on the stock. Finally, Truist Financial set a $130.00 price target on ServiceTitan in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.13.

ServiceTitan Price Performance

Shares of ServiceTitan stock traded down $1.84 during trading on Wednesday, hitting $65.67. 917,076 shares of the company were exchanged, compared to its average volume of 1,233,336. The firm has a 50 day moving average price of $98.30 and a 200 day moving average price of $101.34. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of -16.10 and a beta of -0.86. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07. ServiceTitan has a fifty-two week low of $61.78 and a fifty-two week high of $131.33.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $249.16 million during the quarter, compared to the consensus estimate of $238.26 million. During the same quarter in the prior year, the company earned $0.75 EPS. The company’s revenue was up 25.0% on a year-over-year basis. On average, equities analysts expect that ServiceTitan will post -1.98 earnings per share for the current fiscal year.

Insider Activity at ServiceTitan

In related news, CFO David Sherry sold 11,672 shares of ServiceTitan stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total transaction of $1,229,061.60. Following the completion of the sale, the chief financial officer directly owned 331,781 shares of the company’s stock, valued at $34,936,539.30. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ara Mahdessian sold 88,525 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total transaction of $9,521,749.00. The SEC filing for this sale provides additional information. Insiders sold a total of 326,676 shares of company stock worth $32,788,864 in the last ninety days. 51.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cloud Capital Management LLC acquired a new position in shares of ServiceTitan during the third quarter worth about $25,000. Toth Financial Advisory Corp lifted 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 purchasing an additional 150 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of ServiceTitan by 189.1% in the fourth 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 period. eCIO Inc. acquired a new stake in ServiceTitan during the fourth quarter worth approximately $30,000. Finally, Elevation Wealth Partners LLC bought a new position in shares of ServiceTitan during the fourth quarter worth approximately $36,000.

ServiceTitan Company 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.