ServiceTitan's stock plummeted 6.27% during intraday trading on Friday, extending losses from the pre-market session.
The sharp decline follows the company's fourth-quarter earnings report, which was released after the market closed on Thursday. Despite ServiceTitan reporting adjusted earnings of 27 cents per share, beating the consensus estimate of 18 cents, and revenue of $253.99 million, exceeding expectations of $245.48 million, multiple Wall Street analysts moved to cut their price targets on the stock.
Notable downward revisions included cuts from Goldman Sachs (to $84 from $117), Citi (to $88 from $117), Canaccord Genuity (to $105 from $140), and Morgan Stanley (to $118 from $131). The wave of target reductions, even as some firms maintained Buy or Overweight ratings, reflects a reassessment of the company's valuation and future prospects, driving the significant selling pressure.
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