ServiceTitan (NASDAQ:TTAN) Reaches New 1-Year Low - What's Next?

Key Points

• ServiceTitan hit a new 52-week low, trading as low as $57.81 and last at $58.63 on heavy volume, down about 5.6% from the prior close.
• Several firms cut price targets (e.g., Stifel, KeyCorp, Wells Fargo) though MarketBeat's consensus remains a "Moderate Buy" with an average target of $113.56.
• The latest quarter beat estimates (EPS $0.27 vs. $0.18; revenue $253.99M vs. $245.47M) but the company is still unprofitable (net margin -16.64%, negative ROE) with analysts forecasting about -1.98 EPS for the year; insiders have been selling recently (CEO sold 32,000 shares; insiders sold 61,418 shares last quarter) despite owning 51.72% of shares.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) shares hit a new 52-week low during trading on Thursday . The company traded as low as $57.81 and last traded at $58.6250, with a volume of 980386 shares trading hands. The stock had previously closed at $62.12.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stifel Nicolaus reduced their target price on ServiceTitan from $145.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, March 13th. Piper Sandler reaffirmed an "overweight" rating and set a $120.00 target price on shares of ServiceTitan in a report on Friday, March 13th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ServiceTitan in a report on Monday, December 29th. KeyCorp reduced their target price on ServiceTitan from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Friday, March 13th. Finally, Wells Fargo & Company reduced their target price on ServiceTitan from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, March 13th. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, ServiceTitan currently has a consensus rating of "Moderate Buy" and an average price target of $113.56.

ServiceTitan Trading Down 5.6%

The business has a 50-day moving average price of $68.00 and a two-hundred day moving average price of $87.60. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of -34.08 and a beta of -0.14.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.09. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The business had revenue of $253.99 million for the quarter, compared to analysts' expectations of $245.47 million. During the same period in the prior year, the firm earned $0.12 EPS. The business's quarterly revenue was up 21.4% on a year-over-year basis. On average, equities research analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Transactions at ServiceTitan

In other news, CEO Ara Mahdessian sold 32,000 shares of the firm's stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $98.50, for a total transaction of $3,152,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Vahe Kuzoyan sold 3,220 shares of the firm's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $224,949.20. Following the sale, the president directly owned 1 shares of the company's stock, valued at approximately $69.86. This represents a 99.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,418 shares of company stock valued at $5,227,669 in the last quarter. Company insiders own 51.72% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in ServiceTitan by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company's stock valued at $518,549,000 after buying an additional 439,079 shares during the period. JPMorgan Chase & Co. boosted its position in ServiceTitan by 118.4% during the third quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company's stock valued at $291,798,000 after purchasing an additional 1,569,136 shares during the last quarter. Franklin Resources Inc. boosted its position in ServiceTitan by 33.8% during the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company's stock valued at $214,494,000 after purchasing an additional 508,848 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in ServiceTitan by 47.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company's stock valued at $172,248,000 after purchasing an additional 519,024 shares during the last quarter. Finally, Greenoaks Capital Partners LLC boosted its position in ServiceTitan by 20.6% during the fourth quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company's stock valued at $165,315,000 after purchasing an additional 264,926 shares during the last quarter.

ServiceTitan Company Profile

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.

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