ServiceTitan (NASDAQ:TTAN) Shares Gap Down - Time to Sell?

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $106.55, but opened at $102.79. ServiceTitan shares last traded at $104.00, with a volume of 92,438 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. TD Securities boosted their price objective on ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Morgan Stanley upped their target price on shares of ServiceTitan from $107.00 to $109.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. Stifel Nicolaus increased their target price on ServiceTitan from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Needham & Company LLC restated a "buy" rating and issued a $140.00 price objective on shares of ServiceTitan in a research report on Friday, June 6th. Finally, KeyCorp raised their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceTitan currently has a consensus rating of "Moderate Buy" and an average target price of $122.21.

ServiceTitan Stock Down 1.2%

The firm's fifty day moving average price is $115.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The company had revenue of $215.69 million during the quarter, compared to analyst estimates of $208.61 million. The company's quarterly revenue was up 26.6% on a year-over-year basis. On average, analysts predict that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Insider Buying and Selling

In other ServiceTitan news, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $102.00, for a total transaction of $51,000,000.00. Following the sale, the insider now directly owns 8,503,571 shares in the company, valued at $867,364,242. This represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 51.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in ServiceTitan in the fourth quarter valued at approximately $57,349,000. Jane Street Group LLC bought a new position in shares of ServiceTitan in the 4th quarter worth about $529,000. Bank of America Corp DE acquired a new position in ServiceTitan in the fourth quarter valued at approximately $540,000. Nuveen Asset Management LLC bought a new position in ServiceTitan during the fourth quarter worth $7,793,000. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of ServiceTitan during the 4th quarter worth about $1,543,000.

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.