The Goldman Sachs Group Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $84.00

ServiceTitan (NASDAQ:TTAN) had its price target reduced by The Goldman Sachs Group from $117.00 to $84.00 in a research note issued to investors on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company reduced their target price on shares of ServiceTitan from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. BMO Capital Markets dropped their price target on shares of ServiceTitan from $108.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, March 13th. KeyCorp cut their price objective on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Canaccord Genuity Group reduced their price objective on shares of ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Finally, BTIG Research lowered their target price on shares of ServiceTitan from $130.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceTitan has an average rating of “Moderate Buy” and a consensus target price of $113.56.

ServiceTitan Trading Down 1.3%

Shares of TTAN opened at $68.74 on Monday. 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 12-month low of $58.01 and a 12-month high of $131.33. The firm has a market capitalization of $6.44 billion, a PE ratio of -39.96 and a beta of -0.72. The stock’s fifty day simple moving average is $77.46 and its 200-day simple moving average is $92.74.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. The business had revenue of $253.99 million for the quarter, compared to analysts’ expectations of $245.47 million. ServiceTitan had a negative return on equity of 6.91% and a negative net margin of 16.64%.The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 earnings per share. As a group, research analysts predict that ServiceTitan will post -1.98 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO David Sherry sold 833 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $91.30, for a total transaction of $76,052.90. Following the completion of the transaction, the chief financial officer owned 330,948 shares in the company, valued at approximately $30,215,552.40. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ara Mahdessian sold 32,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $98.50, for a total transaction of $3,152,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,366 shares of company stock valued at $4,889,811 in the last 90 days. 51.72% of the stock is owned by insiders.

Institutional Trading of ServiceTitan

Hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. lifted its holdings in ServiceTitan by 758.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,811 shares of the company’s stock worth $193,000 after acquiring an additional 1,600 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of ServiceTitan by 391.0% during the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock valued at $52,000 after purchasing an additional 391 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in shares of ServiceTitan in the 4th quarter valued at approximately $229,000. Vident Advisory LLC grew its position in shares of ServiceTitan by 63.9% in the 4th quarter. Vident Advisory LLC now owns 4,824 shares of the company’s stock valued at $514,000 after purchasing an additional 1,881 shares during the period. Finally, Beacon Pointe Advisors LLC bought a new stake in ServiceTitan during the 4th quarter worth approximately $281,000.

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.