ServiceTitan (NASDAQ:TTAN) Stock Price Up 8.4% - Time to Buy?

Key Points

• ServiceTitan shares jumped 8.4% to about $81.23, well above the company’s 50- and 200-day moving averages near $71. The stock has a market capitalization of approximately $7.65 billion.
• Analysts remain broadly optimistic: 15 rate the stock Buy, three recommend Hold and one recommends Sell, producing a “Moderate Buy” consensus and an average price target of $110.53.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.37 versus $0.28 expected and revenue of $268.8 million, up 24.6% year over year. However, insiders sold nearly 297,000 shares worth about $20 million over the past three months, while ServiceTitan continues to report a negative net margin.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report)'s stock price shot up 8.4% during trading on Tuesday . The company traded as high as $81.04 and last traded at $81.2260. 197,905 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,452,746 shares. The stock had previously closed at $74.92.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TTAN. Piper Sandler upped their target price on shares of ServiceTitan from $100.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, June 5th. BTIG Research reiterated a "buy" rating and issued a $110.00 price target on shares of ServiceTitan in a research report on Friday, July 10th. Stifel Nicolaus set a $125.00 price objective on ServiceTitan in a research note on Wednesday, May 27th. BMO Capital Markets upped their price objective on ServiceTitan from $92.00 to $103.00 and gave the company an "outperform" rating in a research report on Friday, June 5th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of ServiceTitan in a research note on Tuesday, May 26th. Fifteen 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $110.53.

ServiceTitan Price Performance

The firm has a fifty day moving average price of $70.92 and a two-hundred day moving average price of $70.88. The stock has a market capitalization of $7.65 billion, a PE ratio of -55.38 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $268.82 million during the quarter, compared to analysts' expectations of $257.40 million. During the same quarter in the previous year, the business earned $0.18 EPS. ServiceTitan's revenue was up 24.6% compared to the same quarter last year. On average, research analysts expect that ServiceTitan Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the company's 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 transaction, the insider directly owned 443,221 shares in the company, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Michele O'connor sold 4,910 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $80.93, for a total transaction of $397,366.30. Following the completion of the transaction, the chief accounting officer directly owned 71,676 shares in the company, valued at $5,800,738.68. This represents a 6.41% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 296,664 shares of company stock valued at $19,958,797. Insiders own 39.89% of the company's stock.

Hedge Funds Weigh In On ServiceTitan

Institutional investors have recently modified their holdings of the stock. First Bank & Trust raised its stake in shares of ServiceTitan by 24.2% during the second quarter. First Bank & Trust now owns 4,426 shares of the company's stock valued at $313,000 after acquiring an additional 862 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in ServiceTitan by 20.0% in the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company's stock worth $61,000 after purchasing an additional 144 shares in the last quarter. Janus Henderson Group PLC grew its stake in ServiceTitan by 1.5% in the first quarter. Janus Henderson Group PLC now owns 783,560 shares of the company's stock worth $49,724,000 after purchasing an additional 11,362 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in ServiceTitan by 75.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,586 shares of the company's stock worth $101,000 after purchasing an additional 680 shares during the period. Finally, California State Teachers Retirement System raised its position in ServiceTitan by 196.7% during the 1st quarter. California State Teachers Retirement System now owns 63,324 shares of the company's stock valued at $4,019,000 after purchasing an additional 41,983 shares in 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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