Key Points
- ServiceTitan CEO Ara Mahdessian sold 38,287 shares at an average price of $84.89, totaling approximately $3.25 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and follows several other recent sales.
- ServiceTitan reported quarterly revenue of $268.82 million, up 24.6% year over year, and adjusted earnings of $0.37 per share, exceeding analysts’ estimate of $0.28. Despite the growth, the company reported a negative net margin of 13.44%.
- Analysts maintain a generally positive outlook, with 15 Buy ratings, three Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $110.53.
ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) CEO Ara Mahdessian sold 38,287 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $84.89, for a total value of $3,250,183.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Ara Mahdessian also recently made the following trade(s):
- On Monday, August 3rd, Ara Mahdessian sold 49,766 shares of ServiceTitan stock. The shares were sold at an average price of $84.75, for a total value of $4,217,668.50.
- On Tuesday, July 7th, Ara Mahdessian sold 51,947 shares of ServiceTitan stock. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06.
- On Wednesday, June 17th, Ara Mahdessian sold 3,028 shares of ServiceTitan stock. The stock was sold at an average price of $66.19, for a total transaction of $200,423.32.
ServiceTitan Stock Performance
Shares of TTAN stock opened at $86.50 on Thursday. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of -59.65 and a beta of 0.02. The company has a 50-day simple moving average of $73.78 and a two-hundred day simple moving average of $69.94. ServiceTitan Inc. has a 52-week low of $54.17 and a 52-week high of $119.99.
ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.37 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 business had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. During the same period last year, the company posted $0.18 earnings per share. ServiceTitan's quarterly revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts forecast that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.
Institutional Investors Weigh In On ServiceTitan
Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of ServiceTitan by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company's stock valued at $518,549,000 after buying an additional 439,079 shares during the period. Franklin Resources Inc. lifted its stake in ServiceTitan by 33.8% in the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company's stock worth $214,494,000 after acquiring an additional 508,848 shares during the period. Artisan Partners Limited Partnership boosted its holdings in ServiceTitan by 47.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company's stock valued at $172,248,000 after acquiring an additional 519,024 shares in the last quarter. Greenoaks Capital Partners LLC boosted its holdings in ServiceTitan by 20.6% in the fourth quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company's stock valued at $165,315,000 after acquiring an additional 264,926 shares in the last quarter. Finally, Capital International Investors increased its position in ServiceTitan by 23.9% during the 4th quarter. Capital International Investors now owns 1,224,699 shares of the company's stock valued at $130,430,000 after purchasing an additional 236,287 shares during the period.
Analyst Ratings Changes
Several equities research analysts recently weighed in on TTAN shares. TD Cowen lifted their price objective on ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, June 5th. BTIG Research reiterated a "buy" rating and issued a $110.00 price objective on shares of ServiceTitan in a research report on Friday, July 10th. Truist Financial reiterated a "buy" rating and set a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. UBS Group reaffirmed a "buy" rating on shares of ServiceTitan in a research note on Wednesday, July 22nd. Finally, Stifel Nicolaus set a $125.00 price objective on shares of ServiceTitan in a report on Wednesday, May 27th. Fifteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $110.53.
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About ServiceTitan
(
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.
Further Reading
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