ServiceTitan (NASDAQ:TTAN) Trading Down 4.1% – Should You Sell?

ServiceTitan Inc. (NASDAQ:TTAN)’s share price was down 4.1% during mid-day trading on Thursday . The stock traded as low as $56.40 and last traded at $56.2750. 2,443,502 shares traded hands during mid-day trading, an increase of 46% from the average session volume of 1,674,176 shares. The stock had previously closed at $58.67.

Analyst Upgrades and Downgrades

TTAN has been the subject of several recent research reports. Robert W. Baird dropped their price target on shares of ServiceTitan from $101.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, September 9th. KeyCorp cut their target price on shares of ServiceTitan from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Evercore set a $90.00 price target on ServiceTitan in a report on Wednesday, September 9th. Weiss Ratings cut ServiceTitan from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 9th. Finally, Canaccord Genuity Group reduced their target price on shares of ServiceTitan from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, September 9th. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.38.

ServiceTitan Trading Down 6.6%

The firm’s 50 day moving average price is $82.22 and its 200-day moving average price is $72.30. The company has a market cap of $5.23 billion, a P/E ratio of -40.33 and a beta of 0.11.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The business had revenue of $292.76 million during the quarter, compared to the consensus estimate of $285.89 million. During the same period in the previous year, the firm posted $0.33 earnings per share. ServiceTitan’s revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts predict that ServiceTitan Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CAO Michele O’connor sold 4,910 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $80.93, for a total value of $397,366.30. Following the completion of the sale, the chief accounting officer owned 71,676 shares of the company’s stock, valued at approximately $5,800,738.68. This represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Vahe Kuzoyan sold 16,388 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $88.95, for a total transaction of $1,457,712.60. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 483,105 shares of company stock valued at $37,102,881 over the last quarter. 39.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ServiceTitan

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in shares of ServiceTitan by 598.9% in the second quarter. Tidal Investments LLC now owns 27,963 shares of the company’s stock valued at $1,977,000 after purchasing an additional 23,962 shares in the last quarter. Whetstone Capital Advisors LLC bought a new position in shares of ServiceTitan during the 2nd quarter worth approximately $3,275,000. WINTON GROUP Ltd acquired a new stake in shares of ServiceTitan in the second quarter valued at approximately $5,218,000. Integrated Wealth Concepts LLC bought a new stake in shares of ServiceTitan in the second quarter worth $115,000. Finally, NewEdge Advisors LLC increased its stake in ServiceTitan by 7,677.2% in the 2nd quarter. NewEdge Advisors LLC now owns 8,866 shares of the company’s stock valued at $627,000 after buying an additional 8,752 shares during the last quarter.

About ServiceTitan

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company’s products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.