ServiceTitan’s (TTAN) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of ServiceTitan (NASDAQ:TTAN) in a report issued on Friday morning,Benzinga reports. They currently have a $140.00 price target on the stock.

Other equities analysts have also recently issued research reports about the stock. Loop Capital lowered their target price on shares of ServiceTitan from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, March 14th. Canaccord Genuity Group increased their price objective on shares of ServiceTitan from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Cowen reissued a “buy” rating on shares of ServiceTitan in a report on Wednesday, May 21st. Morgan Stanley upped their target price on ServiceTitan from $104.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Finally, TD Securities lifted their price target on ServiceTitan from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, May 21st. Four equities 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.21.

ServiceTitan Price Performance

Shares of TTAN stock opened at $106.60 on Friday. The business has a 50 day simple moving average of $113.89. ServiceTitan has a 12-month low of $79.81 and a 12-month high of $131.33.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $215.69 million during the quarter, compared to the consensus estimate of $208.61 million. ServiceTitan’s revenue for the quarter was up 26.6% compared to the same quarter last year. Equities research analysts forecast that ServiceTitan will post -1.98 EPS for the current fiscal year.

Insider Activity at ServiceTitan

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

Institutional Trading of ServiceTitan

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

ServiceTitan Company Profile

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.