ServiceTitan (NASDAQ:TTAN) Sets New 52-Week Low – Here’s Why

ServiceTitan Inc. (NASDAQ:TTAN)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $85.00 and last traded at $86.01, with a volume of 18251 shares. The stock had previously closed at $88.43.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Loop Capital began coverage on shares of ServiceTitan in a report on Monday, January 6th. They issued a “hold” rating and a $105.00 price objective on the stock. Truist Financial initiated coverage on ServiceTitan in a report on Monday, January 6th. They set a “buy” rating and a $120.00 price target for the company. Wells Fargo & Company started coverage on ServiceTitan in a report on Monday, January 6th. They issued an “overweight” rating and a $125.00 price objective on the stock. Piper Sandler started coverage on ServiceTitan in a report on Monday, January 6th. They issued an “overweight” rating and a $125.00 price target for the company. Finally, KeyCorp began coverage on shares of ServiceTitan in a research report on Monday, January 6th. They set an “overweight” rating and a $120.00 price objective for the company. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $116.17.

ServiceTitan Stock Up 0.2 %

The business’s 50-day moving average price is $97.96.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results on Monday, January 13th. The company reported ($1.18) earnings per share for the quarter. As a group, research analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in ServiceTitan in the fourth quarter valued at about $25,365,000. New York State Common Retirement Fund acquired a new stake in shares of ServiceTitan in the 4th quarter valued at approximately $3,692,000. TimesSquare Capital Management LLC purchased a new stake in shares of ServiceTitan in the fourth quarter valued at approximately $87,896,000. SBI Securities Co. Ltd. acquired a new position in ServiceTitan during the fourth quarter worth $26,000. Finally, Victory Capital Management Inc. acquired a new stake in ServiceTitan in the fourth quarter valued at $10,450,000.

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.