ServiceTitan, Inc. (NASDAQ:TTAN) shares are trading lower on Friday after the company reported fourth-quarter financial results on Thursday after the market closed. Also, Keybanc and Needham lowered their respective price targets on the stock.

Q4 Results And Key Metrics

ServiceTitan reported adjusted earnings per share of 27 cents, beating the consensus estimate of 18 cents. In addition, it reported revenue of $253.98 million, beating the consensus estimate of $245.47 million.

Platform revenue came in at $245.1 million, compared with $200.1 million in the prior-year quarter, representing 23% year-over-year growth.

Gross transaction volume totaled $19.8 billion in the fourth quarter, up from $17.0 billion a year earlier.

Total active customers increased to approximately 10,800, up from about 9,500 a year earlier. Net dollar retention remained above 110%, while gross dollar retention stayed above 95%.

“Our vision and mission from the beginning have been simple: to inflect our customers’ revenue and margins by automating their operations” said Ara Mahdessian, Co-Founder and CEO. “I am deeply proud to surpass a $1B annualized revenue run rate and to see our vision unfold faster than we ever could have imagined.”

ServiceTitan sees first-quarter revenue of $255.00 million to $257.00 million, versus the consensus estimate of $252.02 million. Furthermore, it sees fiscal-year revenue of $1.11 billion to $1.12 billion, versus the consensus estimate of $1.09 billion.

Consensus Ratings And Analyst Actions

The company has a consensus rating of Buy and a consensus price target of $127.94. Recent analyst changes include:

  • Needham analyst Scott Berg maintained a Buy rating on ServiceTitan and lowered the price target from $140 to $100.
  • Keybanc analyst Jason Celino maintained an Overweight rating on ServiceTitan and lowered the price target from $140 to $120.

ServiceTitan Stock Drops

TTAN Price Action: At the time of publication, ServiceTitan shares are trading 4.85% lower at $71.98, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.