ServiceTitan (NASDAQ:TTAN) Shares Down 6% – Should You Sell?

ServiceTitan Inc. (NASDAQ:TTAN)’s stock price fell 6% during trading on Monday . The company traded as low as $72.77 and last traded at $72.7360. 545,790 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 1,379,658 shares. The stock had previously closed at $77.40.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TTAN. Piper Sandler increased their price objective on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a report on Tuesday, May 26th. Citigroup restated a “neutral” rating on shares of ServiceTitan in a report on Monday. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a report on Friday. Finally, Truist Financial restated a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a report on Friday. Fifteen 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.53.

ServiceTitan Stock Down 3.1%

The company has a market capitalization of $6.74 billion, a P/E ratio of -48.77 and a beta of 0.13. The firm has a 50-day moving average price of $63.64 and a two-hundred day moving average price of $77.79.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The company had revenue of $268.82 million during the quarter, compared to analysts’ expectations of $257.40 million. During the same period in the prior year, the business earned $0.18 earnings per share. ServiceTitan’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, analysts predict that ServiceTitan Inc. will post -0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Michele O’connor sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $58.93, for a total value of $294,650.00. Following the completion of the sale, the chief accounting officer directly owned 79,416 shares of the company’s stock, valued at approximately $4,679,984.88. This represents a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ara Mahdessian sold 2,288 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $159,839.68. Following the completion of the sale, the chief executive officer directly owned 1 shares of the company’s stock, valued at $69.86. This represents a 99.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 33,440 shares of company stock valued at $2,281,468 over the last ninety days. 39.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TTAN. Toth Financial Advisory Corp lifted its position in ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares during the period. Farther Finance Advisors LLC lifted its position in ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 174 shares during the period. eCIO Inc. bought a new position in ServiceTitan in the fourth quarter worth $30,000. Elevation Wealth Partners LLC bought a new position in ServiceTitan in the fourth quarter worth $36,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after purchasing an additional 392 shares during the period.

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.