ServiceTitan (NASDAQ:TTAN) Price Target Lowered to $84.00 at The Goldman Sachs Group

ServiceTitan (NASDAQ:TTAN) had its target price lowered by The Goldman Sachs Group from $117.00 to $84.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in on TTAN. William Blair restated an “outperform” rating on shares of ServiceTitan in a research note on Friday. Wells Fargo & Company reduced their price objective on ServiceTitan from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Friday. Morgan Stanley reduced their price objective on ServiceTitan from $131.00 to $118.00 and set an “overweight” rating for the company in a report on Friday. KeyCorp decreased their target price on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Needham & Company LLC lowered their target price on shares of ServiceTitan from $140.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ServiceTitan presently has a consensus rating of “Moderate Buy” and an average target price of $113.56.

ServiceTitan Price Performance

Shares of TTAN opened at $70.91 on Monday. ServiceTitan has a twelve month low of $58.01 and a twelve month high of $131.33. The company has a market capitalization of $6.64 billion, a P/E ratio of -41.23 and a beta of -0.71. The firm has a 50 day moving average of $78.85 and a 200 day moving average of $93.18. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. ServiceTitan had a negative return on equity of 6.91% 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 posted $0.12 EPS. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. As a group, equities research analysts anticipate that ServiceTitan will post -1.98 earnings per share for the current fiscal year.

Insider Transactions at ServiceTitan

In other news, CAO Michele O’connor sold 1,678 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total transaction of $176,693.40. Following the transaction, the chief accounting officer directly owned 89,571 shares of the company’s stock, valued at $9,431,826.30. This represents a 1.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David Sherry sold 11,672 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer owned 331,781 shares in the company, valued at approximately $34,936,539.30. This trade represents a 3.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,792 shares of company stock valued at $6,935,369 over the last 90 days. 51.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new stake in shares of ServiceTitan during the 3rd quarter valued at about $25,000. Toth Financial Advisory Corp boosted its holdings in shares of ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company’s stock worth $27,000 after buying an additional 150 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 174 shares during the last quarter. eCIO Inc. bought a new stake in ServiceTitan during the fourth quarter valued at approximately $30,000. Finally, Elevation Wealth Partners LLC bought a new stake in ServiceTitan during the fourth quarter valued at approximately $36,000.

Key Stories Impacting ServiceTitan

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: Piper Sandler reiterated an Overweight rating on TTAN, which supports continued analyst conviction in growth prospects. ServiceTitan’s (TTAN) Overweight Rating Reiterated at Piper Sandler
• Positive Sentiment: One firm raised its price target to $135, signaling at least one analyst still sees significant upside versus current levels. ServiceTitan (NASDAQ:TTAN) Price Target Raised to $135.00
• Neutral Sentiment: KeyCorp cut its price target to $120.00 — a downgrade in expectation but still well above the current share price, implying continued upside if execution holds. KeyCorp Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $120.00
• Neutral Sentiment: Canaccord Genuity reduced its target to $105.00 — a pullback that moderates near-term expectations but doesn’t remove upside potential. Canaccord Genuity Group Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $105.00
• Neutral Sentiment: Wells Fargo cut its target to $115.00, Morgan Stanley trimmed to $118.00, Truist lowered to $100.00, and Needham cut to $100.00 — a cluster of downward adjustments that compress the high end of the analyst range. Wells Fargo & Company Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $115.00 Morgan Stanley Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $118.00 Truist Financial Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $100.00 Needham & Company LLC Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $100.00
• Negative Sentiment: Goldman Sachs cut its target from $117 to $84 and moved to a “neutral” rating — a clear downgrade that reduces perceived upside and is likely a major driver of downward pressure. Article Title
• Negative Sentiment: Citigroup cut its price target to $88, another lower projection that narrows upside expectations. Citigroup Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $88.00
• Negative Sentiment: Market reaction included a meaningful down move reported yesterday (trading down ~7.8%) after analyst actions began; that momentum appears to be continuing as targets are updated. ServiceTitan (NASDAQ:TTAN) Trading Down 7.8% on Analyst Downgrade

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.