Morgan Stanley Issues Positive Forecast for ServiceTitan (NASDAQ:TTAN) Stock Price

ServiceTitan (NASDAQ:TTAN) had its target price lifted by Morgan Stanley from $107.00 to $109.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

TTAN has been the subject of several other reports. Piper Sandler reissued an “overweight” rating and set a $125.00 price target on shares of ServiceTitan in a research report on Friday, March 14th. KeyCorp raised their price objective on ServiceTitan from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Loop Capital cut their price objective on ServiceTitan from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, March 14th. TD Securities raised their price objective on ServiceTitan from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, May 21st. Finally, Cowen reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceTitan currently has an average rating of “Moderate Buy” and an average price target of $122.21.

ServiceTitan Stock Down 6.9%

Shares of NASDAQ TTAN opened at $106.60 on Friday. The company’s 50 day moving average is $113.89. ServiceTitan has a 52 week low of $79.81 and a 52 week high of $131.33.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. The company had revenue of $215.69 million for the quarter, compared to analyst estimates of $208.61 million. ServiceTitan’s revenue was up 26.6% compared to the same quarter last year. As a group, equities research analysts anticipate that ServiceTitan will post -1.98 EPS for the current year.

Insider Transactions at ServiceTitan

In other news, CFO David Sherry sold 10,175 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $963,063.75. Following the transaction, the chief financial officer now owns 325,409 shares in the company, valued at approximately $30,799,961.85. This trade represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michele O’connor sold 5,494 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $520,007.10. Following the transaction, the chief accounting officer now owns 89,302 shares in the company, valued at approximately $8,452,434.30. This trade represents a 5.80% decrease in their position. The disclosure for this sale can be found here. 51.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ServiceTitan

Hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in ServiceTitan during the 4th quarter worth $26,000. Harbor Investment Advisory LLC bought a new position in ServiceTitan during the 1st quarter worth $31,000. LRI Investments LLC bought a new position in ServiceTitan during the 1st quarter worth $58,000. Assetmark Inc. bought a new position in ServiceTitan during the 4th quarter worth $67,000. Finally, FIL Ltd bought a new position in ServiceTitan during the 4th quarter worth $67,000.

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.