Key Points
- ServiceTitan CFO David Sherry sold 20,192 shares on June 17 at an average price of $66.19, totaling about $1.34 million. After the sale, he still held 398,033 shares, and the transaction was disclosed as being for tax withholding tied to vested equity awards.
- TTAN stock fell 6.2% and opened Thursday at $62.45, below both its 50-day moving average ($64.22) and 200-day moving average ($76.92). The stock remains well below its 52-week high of $119.99 but above its 52-week low of $54.17.
- ServiceTitan’s latest earnings beat expectations, with quarterly EPS of $0.37 versus the $0.28 consensus and revenue of $268.82 million, up 24.6% year over year. Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $110.53.
ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) CEO Ara Mahdessian sold 3,028 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total value of $200,423.32. Following the sale, the chief executive officer directly owned 2 shares of the company's stock, valued at approximately $132.38. This represents a 99.93% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
ServiceTitan Trading Down 6.2%
Shares of TTAN stock opened at $62.45 on Thursday. The company has a market capitalization of $5.96 billion, a P/E ratio of -43.07 and a beta of 0.13. The business's 50 day moving average is $64.22 and its two-hundred day moving average is $76.92. ServiceTitan Inc. has a twelve month low of $54.17 and a twelve month high of $119.99.
ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping 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 business had revenue of $268.82 million during the quarter, compared to analysts' expectations of $257.40 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The company's quarterly revenue was up 24.6% compared to the same quarter last year. As a group, equities analysts predict that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.
Institutional Trading of ServiceTitan
Several hedge funds and other institutional investors have recently made changes to their positions in TTAN. Vanguard Group Inc. grew its holdings in ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company's stock valued at $446,670,000 after purchasing an additional 3,735,968 shares during the period. Thornburg Investment Management Inc. purchased a new position in ServiceTitan during the third quarter worth approximately $8,338,000. Sandhill Capital Partners LLC acquired a new position in shares of ServiceTitan in the 3rd quarter valued at $27,062,000. Renaissance Capital LLC boosted its holdings in shares of ServiceTitan by 222.8% in the 4th quarter. Renaissance Capital LLC now owns 41,223 shares of the company's stock valued at $4,390,000 after purchasing an additional 28,454 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of ServiceTitan during the 3rd quarter valued at $84,983,000.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of ServiceTitan in a research note on Friday, April 24th. BTIG Research increased their price target on shares of ServiceTitan from $90.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, June 5th. Stifel Nicolaus set a $125.00 price objective on shares of ServiceTitan in a research report on Wednesday, May 27th. Truist Financial reaffirmed a "buy" rating and issued a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $100.00 target price on shares of ServiceTitan in a research report on Wednesday. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ServiceTitan has an average rating of "Moderate Buy" and an average target price of $110.53.
Read Our Latest Research Report on TTAN
ServiceTitan Company Profile
(
Get Free Report)
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.
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