Brokerages Set ServiceTitan Inc. (NASDAQ:TTAN) Target Price at $108.93

ServiceTitan Inc. (NASDAQ:TTAN) has been given an average rating of “Moderate Buy” by the seventeen analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $108.9286.

A number of equities research analysts recently weighed in on TTAN shares. Citigroup reissued a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. Weiss Ratings raised shares of ServiceTitan from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 26th. Stifel Nicolaus set a $125.00 price target on shares of ServiceTitan in a research note on Wednesday, May 27th. Robert W. Baird boosted their price target on ServiceTitan from $94.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, BTIG Research reissued a “buy” rating and issued a $110.00 price objective on shares of ServiceTitan in a research note on Friday, July 10th.

ServiceTitan Stock Down 5.6%

ServiceTitan stock opened at $87.92 on Friday. ServiceTitan has a 52-week low of $54.17 and a 52-week high of $119.99. The firm’s fifty day moving average is $84.09 and its 200 day moving average is $72.31. The company has a market cap of $8.39 billion, a price-to-earnings ratio of -60.63 and a beta of 0.11.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The business had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. During the same period last year, the company earned $0.18 EPS. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, equities research analysts anticipate that ServiceTitan will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ServiceTitan news, CFO David Sherry sold 20,192 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total transaction of $1,336,508.48. Following the sale, the chief financial officer owned 398,033 shares of the company’s stock, valued at approximately $26,345,804.27. This trade represents a 4.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Vahe Kuzoyan sold 114,732 shares of ServiceTitan stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $88.84, for a total value of $10,192,790.88. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 524,837 shares of company stock valued at $39,894,622 over the last ninety days. Company insiders own 39.89% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTAN. Corient Private Wealth LP purchased a new position in shares of ServiceTitan in the 2nd quarter valued at approximately $2,827,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in ServiceTitan during the 2nd quarter worth approximately $255,000. Vancity Investment Management Ltd increased its stake in ServiceTitan by 17.2% during the 2nd quarter. Vancity Investment Management Ltd now owns 14,973 shares of the company’s stock valued at $1,059,000 after purchasing an additional 2,198 shares in the last quarter. California State Teachers Retirement System increased its stake in ServiceTitan by 7,065.5% during the 2nd quarter. California State Teachers Retirement System now owns 4,537,461 shares of the company’s stock valued at $320,844,000 after purchasing an additional 4,474,137 shares in the last quarter. Finally, Shah Wealth Advisors LLC purchased a new position in shares of ServiceTitan in the second quarter worth $1,186,000.

ServiceTitan Company Profile

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.