Key Points
- ServiceTitan major shareholder Iconiq Strategic Partners V, L sold 94,415 shares on June 23 at an average price of $63.43, totaling about $5.99 million. The sale reduced its stake by 17.56%, leaving 443,221 shares worth about $28.1 million.
- The stock was trading higher, opening at $65.03 and up 1.3% on the day. ServiceTitan’s shares remain well below their 52-week high of $119.99 and above their 52-week low of $54.17.
- Recent operating results 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 currently rate the stock a “Moderate Buy” on average, with a consensus price target of $110.53.
ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) Director William J.G. Griffith sold 200 shares of the company's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $63.01, for a total value of $12,602.00. Following the completion of the transaction, the director directly owned 483,550 shares in the company, valued at $30,468,485.50. This represents a 0.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
William J.G. Griffith also recently made the following trade(s):
- On Tuesday, June 23rd, William J.G. Griffith sold 94,415 shares of ServiceTitan stock. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45.
ServiceTitan Stock Up 1.3%
TTAN opened at $65.03 on Thursday. The firm has a market cap of $6.20 billion, a PE ratio of -44.85 and a beta of 0.13. The business has a fifty day simple moving average of $64.70 and a 200-day simple moving average of $75.96. ServiceTitan Inc. has a fifty-two week low of $54.17 and a fifty-two week high of $119.99.
ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $257.40 million. During the same period in the previous year, the firm 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, equities research analysts anticipate that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.
Wall Street Analyst Weigh In
TTAN has been the topic of several recent analyst reports. Canaccord Genuity Group cut their price objective on ServiceTitan from $140.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, March 13th. Piper Sandler raised their target price on shares of ServiceTitan from $100.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, June 5th. William Blair reissued an "outperform" rating on shares of ServiceTitan in a research report on Friday, March 13th. Citigroup restated a "neutral" rating on shares of ServiceTitan in a report on Monday, June 8th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of ServiceTitan in a research report on Friday, April 24th. Fifteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $110.53.
Get Our Latest Report on ServiceTitan
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Woodline Partners LP lifted its position in ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company's stock worth $204,000 after buying an additional 95 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of ServiceTitan in the second quarter worth $345,000. Russell Investments Group Ltd. acquired a new position in shares of ServiceTitan in the second quarter worth $500,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock worth $46,000 after acquiring an additional 392 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of ServiceTitan during the second quarter worth $393,000.
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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