ServiceTitan (NASDAQ:TTAN) Stock Price Down 9% – Should You Sell?

ServiceTitan Inc. (NASDAQ:TTAN) shares traded down 9% during trading on Thursday . The company traded as low as $58.64 and last traded at $58.7660. 118,487 shares were traded during trading, a decline of 91% from the average session volume of 1,368,119 shares. The stock had previously closed at $64.59.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of ServiceTitan in a research report on Friday, March 13th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 29th. Stifel Nicolaus decreased their price objective on ServiceTitan from $145.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, March 13th. BMO Capital Markets decreased their price objective on ServiceTitan from $108.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 13th. Finally, Piper Sandler decreased their price objective on ServiceTitan from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $112.31.

ServiceTitan Stock Down 6.8%

The firm has a fifty day moving average price of $66.68 and a 200 day moving average price of $84.60. The company has a market cap of $5.64 billion, a P/E ratio of -34.99 and a beta of -0.14.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The business had revenue of $253.99 million during the quarter, compared to analysts’ expectations of $245.47 million. During the same period in the previous year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. On average, sell-side analysts anticipate that ServiceTitan Inc. will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Vahe Kuzoyan sold 3,220 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 transaction of $224,949.20. Following the sale, the president directly owned 1 shares of the company’s stock, valued at $69.86. This represents a 99.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ara Mahdessian sold 2,288 shares of the firm’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 completion of the sale, the chief executive officer directly owned 1 shares of the company’s stock, valued at approximately $69.86. This represents a 99.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 33,440 shares of company stock valued at $2,281,468. 51.72% of the stock is owned by corporate insiders.

Institutional Trading of ServiceTitan

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cloud Capital Management LLC acquired a new stake in shares of ServiceTitan in the third quarter valued at approximately $25,000. Toth Financial Advisory Corp increased its holdings in shares of ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in 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 acquiring an additional 174 shares during the last quarter. eCIO Inc. bought a new position in ServiceTitan in the fourth quarter valued at approximately $30,000. Finally, Elevation Wealth Partners LLC bought a new position in ServiceTitan in the fourth quarter valued at approximately $36,000.

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.