ServiceTitan (NASDAQ:TTAN) Issues Earnings Results

ServiceTitan (NASDAQ:TTAN) announced its quarterly earnings data on Thursday. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.09, FiscalAI reports. The company had revenue of $249.16 million during the quarter, compared to analyst estimates of $238.26 million. ServiceTitan had a negative net margin of 26.08% and a negative return on equity of 16.87%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period last year, the business earned $0.75 EPS.

ServiceTitan Stock Up 2.4%

TTAN stock opened at $95.59 on Friday. The stock has a market cap of $8.89 billion and a PE ratio of -17.70. The firm’s 50-day simple moving average is $94.43 and its 200 day simple moving average is $104.86. ServiceTitan has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.07.

Insiders Place Their Bets

In other ServiceTitan news, major shareholder Bessemer Venture Partners Viii sold 370,557 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $117.79, for a total value of $43,647,909.03. Following the sale, the insider owned 7,595,777 shares in the company, valued at approximately $894,706,572.83. This trade represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ara Mahdessian sold 46,542 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $91.40, for a total value of $4,253,938.80. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,121,690 shares of company stock worth $126,740,332. Insiders own 51.72% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

Several institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of ServiceTitan by 1,005.1% during the 2nd 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. Parallel Advisors LLC lifted its holdings in shares of ServiceTitan by 161.7% during the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock valued at $53,000 after purchasing an additional 325 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of ServiceTitan in the 2nd quarter valued at $94,000. Lazard Asset Management LLC purchased a new position in ServiceTitan in the 2nd quarter worth about $99,000. Finally, Osaic Holdings Inc. raised its holdings in ServiceTitan by 251.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,195 shares of the company’s stock worth $128,000 after buying an additional 855 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus lifted their price target on ServiceTitan from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Robert W. Baird lifted their target price on ServiceTitan from $124.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Morgan Stanley boosted their price target on ServiceTitan from $109.00 to $118.00 and gave the company an “equal weight” rating in a report on Friday, September 5th. Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday. Finally, KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research note on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.73.

About ServiceTitan

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.