Crispr Therapeutics shares tumble after significant earnings miss
Director Byron B Deeter indirectly reported the sale of ServiceTitan, Inc. (EXCHANGE:TTAN) Class A Common Stock on June 25 and 26. The sales involved Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P. and 15 Angels II LLC (collectively, the "Bessemer Funds"). The company, currently valued at $9.66 billion, trades at $107.93 per share, with analysts setting price targets between $100 and $145.
On June 25, the Bessemer Funds sold an aggregate of 12,543 shares of Class A Common Stock. On June 26, the Bessemer Funds sold an aggregate of 124,999 shares of Class A Common Stock. The price per share for these sales was $0. According to InvestingPro, the company maintains strong liquidity with a current ratio of 4.82, though it’s currently not profitable over the last twelve months.
Following these transactions, Deeter indirectly holds 1,891 shares of ServiceTitan, Inc. Class A Common Stock. InvestingPro analysis shows the company operates with moderate debt levels and has received upward earnings revisions from 11 analysts for the upcoming period. Get access to more detailed insights and 7 additional ProTips with an InvestingPro subscription.
In other recent news, ServiceTitan reported first-quarter revenue of $215.69 million, marking a 27% year-over-year increase, surpassing expectations. Despite this revenue beat, the company posted a GAAP net loss from operations of $49.5 million, which was an improvement from the previous year’s loss. ServiceTitan’s adjusted income from operations rose to $16.2 million from $3.3 million in the prior year, with a 22% increase in gross transaction volume to $17.7 billion. The company has projected second-quarter revenue between $228 million and $230 million, exceeding consensus estimates, and expects full fiscal year 2026 revenue to range between $910 million and $920 million.
Analysts at TD Cowen raised ServiceTitan’s stock price target to $145, maintaining a Buy rating, following the company’s strong first-quarter revenue growth and the launch of four large commercial accounts. They also noted that ServiceTitan’s full-year guidance was increased, reflecting confidence in its growth trajectory. Truist Securities also reiterated a Buy rating on ServiceTitan, with a price target of $120, after discussions with the company’s management highlighted strategic initiatives and operational efficiency. Both firms expressed optimism about ServiceTitan’s future growth potential, despite the market’s concerns about its profitability path.
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