ServiceTitan (NASDAQ:TTAN) Trading Down 4.1% – Time to Sell?

Shares of ServiceTitan Inc. (NASDAQ:TTAN) dropped 4.1% during trading on Thursday . The stock traded as low as $56.40 and last traded at $56.2750. Approximately 2,443,502 shares changed hands during mid-day trading, an increase of 46% from the average daily volume of 1,674,176 shares. The stock had previously closed at $58.67.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TTAN shares. Citigroup dropped their price target on shares of ServiceTitan from $83.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 9th. Robert W. Baird reduced their price objective on shares of ServiceTitan from $101.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, September 9th. Weiss Ratings lowered ServiceTitan from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 9th. TD Cowen dropped their target price on ServiceTitan from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, September 9th. Finally, Canaccord Genuity Group cut their target price on ServiceTitan from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.38.

ServiceTitan Stock Performance

The stock’s fifty day moving average price is $81.27 and its 200-day moving average price is $72.05. The firm has a market cap of $5.25 billion, a PE ratio of -40.47 and a beta of 0.11.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The company had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.89 million. During the same period in the prior year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. Sell-side analysts forecast that ServiceTitan Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Transactions at ServiceTitan

In related news, President Vahe Kuzoyan sold 114,732 shares of ServiceTitan stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $88.84, for a total transaction of $10,192,790.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ara Mahdessian sold 51,947 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 483,105 shares of company stock worth $37,102,881 over the last ninety days. 39.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceTitan

A number of large investors have recently bought and sold shares of the stock. State of Wyoming acquired a new position in ServiceTitan during the first quarter valued at approximately $48,000. Elevation Wealth Partners LLC grew its position in shares of ServiceTitan by 20.0% during the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after buying an additional 144 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of ServiceTitan by 30.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after purchasing an additional 209 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in ServiceTitan in the second quarter valued at about $115,000. Finally, Parallel Advisors LLC increased its holdings in shares of ServiceTitan by 226.4% in the 1st quarter. Parallel Advisors LLC now owns 1,717 shares of the company’s stock valued at $109,000 after acquiring an additional 1,191 shares during the last quarter.

About ServiceTitan

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company’s products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.