ServiceTitan (NASDAQ:TTAN) Stock Price Up 7% – Still a Buy?

ServiceTitan Inc. (NASDAQ:TTAN)’s share price was up 7% on Friday . The stock traded as high as $67.45 and last traded at $67.8090. 186,935 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,386,214 shares. The stock had previously closed at $63.40.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TTAN. Stifel Nicolaus set a $125.00 target price on ServiceTitan in a research report on Wednesday, May 27th. BTIG Research upped their price target on ServiceTitan from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Truist Financial reiterated a “buy” rating and set a $110.00 price target (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. Wells Fargo & Company cut their price objective on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a report on Wednesday, June 17th. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.53.

ServiceTitan Stock Up 9.1%

The business has a 50-day simple moving average of $64.96 and a 200-day simple moving average of $75.61. The company has a market cap of $6.60 billion, a PE ratio of -47.72 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $257.40 million. During the same period last year, the business posted $0.18 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts predict that ServiceTitan Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity

In related news, CFO David Sherry sold 20,192 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total transaction of $1,336,508.48. Following the completion of the transaction, the chief financial officer directly owned 398,033 shares in the company, valued at $26,345,804.27. This trade represents a 4.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of ServiceTitan stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the transaction, the insider directly owned 443,221 shares of the company’s stock, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 244,807 shares of company stock worth $15,649,413 in the last quarter. Insiders own 39.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Toth Financial Advisory Corp increased its stake in 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 buying an additional 150 shares during the period. Farther Finance Advisors LLC lifted its holdings in ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 174 shares in the last quarter. eCIO Inc. acquired a new stake in ServiceTitan during the 4th quarter worth approximately $30,000. Elevation Wealth Partners LLC purchased a new position in ServiceTitan in the 4th quarter valued at approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares during the period.

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.