ServiceTitan (NASDAQ:TTAN) Price Target Lowered to $125.00 at Wells Fargo & Company

ServiceTitan (NASDAQ:TTAN) had its target price reduced by Wells Fargo & Company from $140.00 to $125.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

TTAN has been the topic of several other research reports. Truist Financial set a $130.00 target price on shares of ServiceTitan in a report on Tuesday, October 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research report on Monday, December 29th. BTIG Research initiated coverage on ServiceTitan in a research report on Tuesday, December 16th. They set a “buy” rating and a $130.00 target price on the stock. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research note on Monday, December 1st. Finally, Morgan Stanley lifted their target price on ServiceTitan from $118.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ServiceTitan has a consensus rating of “Moderate Buy” and an average price target of $133.13.

ServiceTitan Trading Down 4.8%

Shares of TTAN stock opened at $64.25 on Wednesday. ServiceTitan has a 1-year low of $61.78 and a 1-year high of $131.33. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of -15.75 and a beta of -0.86. The stock has a 50-day moving average of $97.81 and a 200-day moving average of $101.08.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results on Thursday, December 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.15 by $0.09. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The business had revenue of $249.16 million for the quarter, compared to analysts’ expectations of $238.26 million. During the same period in the prior year, the business posted $0.75 earnings per share. The firm’s revenue was up 25.0% on a year-over-year basis. On average, equities research analysts forecast that ServiceTitan will post -1.98 earnings per share for the current year.

Insider Transactions at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 11,672 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total value of $1,229,061.60. Following the transaction, the chief financial officer owned 331,781 shares in the company, valued at approximately $34,936,539.30. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ara Mahdessian sold 88,525 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total value of $9,521,749.00. The SEC filing for this sale provides additional information. Insiders sold a total of 233,592 shares of company stock valued at $24,280,986 in the last 90 days. Corporate insiders own 51.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of ServiceTitan by 538.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after acquiring an additional 3,735,968 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in ServiceTitan by 118.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after purchasing an additional 1,569,136 shares in the last quarter. Invesco Ltd. increased its holdings in ServiceTitan by 1,388.2% during the 2nd quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock worth $158,344,000 after purchasing an additional 1,378,100 shares in the last quarter. Franklin Resources Inc. grew its holdings in ServiceTitan by 148.4% during the second quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock worth $202,917,000 after buying an additional 1,131,062 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of ServiceTitan in the 3rd quarter worth $84,983,000.

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.