Key Points
- ServiceTitan CEO Ara Mahdessian sold 41,073 shares for about $3.44 million at an average price of $83.78; the sale was made under a pre-arranged Rule 10b5-1 plan. He had sold another 63,927 shares the previous day.
- Shares were reported down 6.3%, while the company’s latest quarter beat analyst estimates: EPS was $0.40 versus $0.35 expected, and revenue rose 20.9% year over year to $292.76 million.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $96.38; some brokerages recently cut their targets, including Morgan Stanley to $92 and Canaccord Genuity to $90.
ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) CEO Ara Mahdessian sold 41,073 shares of the company's stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $83.78, for a total transaction of $3,441,095.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Ara Mahdessian also recently made the following trade(s):
- On Wednesday, November 4th, Ara Mahdessian sold 63,927 shares of ServiceTitan stock. The stock was sold at an average price of $87.38, for a total transaction of $5,585,941.26.
- On Thursday, September 17th, Ara Mahdessian sold 3,148 shares of ServiceTitan stock. The stock was sold at an average price of $57.07, for a total transaction of $179,656.36.
ServiceTitan Trading Down 6.3%
ServiceTitan stock opened at $82.21 on Friday. ServiceTitan Inc. has a 1-year low of $53.00 and a 1-year high of $111.36. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of -60.45 and a beta of 0.09. The firm has a 50 day simple moving average of $74.19 and a 200 day simple moving average of $72.47.
ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%. The firm had revenue of $292.76 million for the quarter, compared to the consensus estimate of $285.89 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. The business's quarterly revenue was up 20.9% on a year-over-year basis. On average, equities research analysts forecast that ServiceTitan Inc. will post -0.55 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages recently issued reports on TTAN. Canaccord Genuity Group dropped their price objective on ServiceTitan from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, September 9th. Weiss Ratings raised ServiceTitan from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, September 29th. KeyCorp reiterated an "overweight" rating on shares of ServiceTitan in a research report on Thursday, October 8th. Needham & Company LLC reiterated a "buy" rating on shares of ServiceTitan in a research report on Wednesday, October 7th. Finally, Morgan Stanley lowered their price target on shares of ServiceTitan from $124.00 to $92.00 and set an "overweight" rating on the stock in a report on Wednesday, September 9th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ServiceTitan currently has an average rating of "Moderate Buy" and an average price target of $96.38.
Get Our Latest Stock Analysis on TTAN
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in TTAN. Keybank National Association OH raised its position in shares of ServiceTitan by 40.4% in the third quarter. Keybank National Association OH now owns 9,897 shares of the company's stock worth $651,000 after buying an additional 2,847 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in ServiceTitan during the third quarter worth about $593,000. Allspring Global Investments Holdings LLC grew its position in ServiceTitan by 49.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 66,767 shares of the company's stock worth $4,496,000 after buying an additional 21,956 shares in the last quarter. Parallel Advisors LLC grew its position in ServiceTitan by 8.0% during the third quarter. Parallel Advisors LLC now owns 1,882 shares of the company's stock worth $124,000 after buying an additional 139 shares in the last quarter. Finally, CenterBook Partners LP increased its stake in ServiceTitan by 95.6% in the 3rd quarter. CenterBook Partners LP now owns 9,588 shares of the company's stock worth $631,000 after acquiring an additional 4,686 shares during the last quarter.
ServiceTitan Company Profile
(
Get Free Report)
ServiceTitan, Inc provides cloud-based software designed to help residential and commercial trade contractors manage and grow their businesses. Its platform serves industries including heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service trades.
The company's software supports core operations such as customer relationship management, marketing, scheduling, dispatching, estimates, invoicing, payments, inventory management, purchasing, payroll, and business reporting.
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