ServiceTitan (NASDAQ:TTAN) Shares Gap Down Following Analyst Downgrade

ServiceTitan Inc. (NASDAQ:TTAN)’s share price gapped down before the market opened on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $117.00 to $84.00. The stock had previously closed at $70.91, but opened at $68.66. The Goldman Sachs Group currently has a neutral rating on the stock. ServiceTitan shares last traded at $71.1940, with a volume of 200,938 shares trading hands.

A number of other equities analysts also recently issued reports on TTAN. BMO Capital Markets dropped their price objective on shares of ServiceTitan from $108.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a report on Monday, December 1st. Piper Sandler reiterated an “overweight” rating and issued a $120.00 price target on shares of ServiceTitan in a research report on Friday. Truist Financial cut their price objective on shares of ServiceTitan from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Friday. Finally, Morgan Stanley reduced their price objective on ServiceTitan from $131.00 to $118.00 and set an “overweight” rating for the company in a research note on Friday. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ServiceTitan presently has an average rating of “Moderate Buy” and a consensus target price of $113.56.

Insider Activity at ServiceTitan

In related news, CEO Ara Mahdessian sold 32,000 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $98.50, for a total transaction of $3,152,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David Sherry sold 11,672 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $105.30, for a total transaction of $1,229,061.60. Following the transaction, the chief financial officer directly owned 331,781 shares of the company’s stock, valued at $34,936,539.30. The trade was a 3.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 68,792 shares of company stock worth $6,935,369 over the last ninety days. 51.72% of the stock is owned by corporate insiders.

ServiceTitan News Roundup

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: SPS PoolCare (largest U.S. residential pool-services platform) will standardize 30+ branch locations across five states on ServiceTitan, a meaningful enterprise customer win that supports recurring SaaS revenue, account expansion and ServiceTitan’s roll-up/scale narrative. SPS PoolCare Expands Enterprise Technology Platform with ServiceTitan
• Positive Sentiment: Piper Sandler reiterated an Overweight rating on TTAN, which supports demand for the shares among growth-focused institutional holders. ServiceTitan’s (TTAN) Overweight Rating Reiterated at Piper Sandler
• Positive Sentiment: One analyst raised their price target to $135, an isolated bullish signal that shows some firms still see upside to longer-term revenue/margin recovery. ServiceTitan (NASDAQ:TTAN) Price Target Raised to $135.00
• Neutral Sentiment: KeyCorp cut its price target to $120 — a downgrade in target but still above current trading levels, making the near-term impact ambiguous for investors balancing valuation vs. growth. KeyCorp Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $120.00
• Negative Sentiment: Goldman Sachs cut its price target from $117 to $84 and moved to a “neutral” rating — a notable negative because GS is a high-profile shop and their new target is well below recent trading levels. Goldman Sachs Lowers ServiceTitan Price Target
• Negative Sentiment: Citigroup lowered its target to $88, another cut that reduces consensus upside and contributes to downward pressure. Citigroup Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $88.00
• Negative Sentiment: Multiple other firms trimmed targets (Canaccord to $105, Needham to $100, Truist to $100, Wells Fargo to $115, Morgan Stanley to $118), layering bearish analyst signals that weigh on sentiment. Canaccord Genuity Group Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $105.00 Needham & Company LLC Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $100.00 Truist Financial Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $100.00 Wells Fargo Cuts ServiceTitan Price Target to $115.00 Morgan Stanley Cuts ServiceTitan Price Target to $118.00

Institutional Investors Weigh In On ServiceTitan

A number of hedge funds have recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new position in ServiceTitan during the 3rd quarter valued at approximately $25,000. Toth Financial Advisory Corp raised its holdings in shares of ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after acquiring an additional 150 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 174 shares during the last quarter. eCIO Inc. bought a new position in shares of ServiceTitan during the 4th quarter valued at approximately $30,000. Finally, Elevation Wealth Partners LLC purchased a new position in shares of ServiceTitan in the fourth quarter valued at $36,000.

ServiceTitan Stock Performance

The business’s fifty day moving average is $78.85 and its two-hundred day moving average is $93.18. The stock has a market capitalization of $6.66 billion, a PE ratio of -41.33 and a beta of -0.71. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.91%. The company had revenue of $253.99 million for the quarter, compared to the consensus estimate of $245.47 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. ServiceTitan’s revenue was up 21.4% on a year-over-year basis. As a group, research analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

About ServiceTitan

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.