ServiceTitan (NASDAQ:TTAN) Trading 7.5% Higher – Time to Buy?

ServiceTitan Inc. (NASDAQ:TTAN)’s share price shot up 7.5% during trading on Monday . The stock traded as high as $62.92 and last traded at $62.90. 1,114,838 shares changed hands during trading, a decline of 16% from the average session volume of 1,327,919 shares. The stock had previously closed at $58.52.

Wall Street Analyst Weigh In

TTAN has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. The Goldman Sachs Group decreased their target price on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. William Blair reiterated an “outperform” rating on shares of ServiceTitan in a research note on Friday, March 13th. Morgan Stanley reduced their price target on shares of ServiceTitan from $131.00 to $118.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Finally, Stifel Nicolaus decreased their price objective on shares of ServiceTitan from $145.00 to $125.00 and set a “buy” rating for the company in a report on Friday, March 13th. Sixteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.31.

ServiceTitan Price Performance

The firm has a fifty day simple moving average of $64.61 and a two-hundred day simple moving average of $80.65. The firm has a market capitalization of $5.97 billion, a P/E ratio of -36.43 and a beta of -0.23.

ServiceTitan (NASDAQ:TTAN) last issued its 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 firm had revenue of $253.99 million for the quarter, compared to analyst estimates of $245.47 million. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The business’s revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 earnings per share. On average, research analysts anticipate that ServiceTitan Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling at ServiceTitan

In other news, CAO Michele O’connor sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $58.93, for a total value of $294,650.00. Following the sale, the chief accounting officer owned 79,416 shares of the company’s stock, valued at $4,679,984.88. The trade was a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 sale, the chief executive officer owned 1 shares in the company, valued at $69.86. The trade was a 99.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,440 shares of company stock valued at $2,281,468 in the last three months. 39.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceTitan

Several institutional investors have recently made changes to their positions in TTAN. Woodline Partners LP boosted its holdings in shares of ServiceTitan by 4.6% in the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after acquiring an additional 95 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of ServiceTitan by 16.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 858 shares of the company’s stock valued at $87,000 after purchasing an additional 119 shares during the period. 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 worth $27,000 after purchasing an additional 150 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 174 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in ServiceTitan by 30.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after purchasing an additional 209 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.