ServiceTitan (NASDAQ:TTAN) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• ServiceTitan's stock has been reaffirmed with a "sell (D-)" rating by Weiss Ratings, indicating concerns about its future performance.
• Despite the negative rating from Weiss, other analysts such as Wells Fargo and Truist Financial have increased their price targets for the stock, indicating more favorable views.
• Insider trading activity has been notable, with significant share sales from the CFO and a major shareholder recently, suggesting potential shifts in investor confidence within the company.

ServiceTitan (NASDAQ:TTAN - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of ServiceTitan from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Truist Financial upped their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Morgan Stanley upped their price target on shares of ServiceTitan from $109.00 to $118.00 and gave the company an "equal weight" rating in a research report on Friday, September 5th. BMO Capital Markets assumed coverage on shares of ServiceTitan in a research report on Thursday, August 28th. They issued an "outperform" rating and a $129.00 price target for the company. Finally, Robert W. Baird upped their price target on shares of ServiceTitan from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $132.67.

ServiceTitan Stock Performance

Shares of ServiceTitan stock traded down $0.11 during trading on Wednesday, hitting $99.29. 787,257 shares of the stock were exchanged, compared to its average volume of 1,547,750. The stock has a market capitalization of $9.23 billion and a price-to-earnings ratio of -18.39. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $107.36 and a 200-day moving average price of $109.57. ServiceTitan has a 1-year low of $79.81 and a 1-year high of $131.33.

Insiders Place Their Bets

In other news, CFO David Sherry sold 11,746 shares of ServiceTitan stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $116.04, for a total transaction of $1,363,005.84. Following the completion of the transaction, the chief financial officer directly owned 347,928 shares in the company, valued at $40,373,565.12. This trade represents a 3.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bessemer Venture Partners Viii sold 28,245 shares of ServiceTitan stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $118.21, for a total transaction of $3,338,841.45. Following the transaction, the insider owned 7,131,050 shares of the company's stock, valued at $842,961,420.50. This represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,239,225 shares of company stock valued at $143,116,946. 51.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TTAN. Bank of America Corp DE bought a new position in shares of ServiceTitan during the fourth quarter valued at about $540,000. Harbour Capital Advisors LLC purchased a new position in ServiceTitan in the 1st quarter worth approximately $252,000. Taylor Frigon Capital Management LLC bought a new stake in shares of ServiceTitan in the 1st quarter worth approximately $2,487,000. WCM Investment Management LLC bought a new stake in ServiceTitan during the 1st quarter valued at $8,025,000. Finally, Principal Financial Group Inc. raised its holdings in ServiceTitan by 38.3% in the 1st quarter. Principal Financial Group Inc. now owns 341,097 shares of the company's stock worth $32,442,000 after purchasing an additional 94,518 shares in the last quarter.

About ServiceTitan

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.

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