ServiceTitan (NASDAQ:TTAN) Sets New 1-Year High – Here’s Why

ServiceTitan Inc. (NASDAQ:TTAN) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $116.39 and last traded at $115.59, with a volume of 710675 shares traded. The stock had previously closed at $105.37.

Analyst Ratings Changes

A number of research firms have recently commented on TTAN. Citigroup upped their target price on ServiceTitan from $109.00 to $113.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Loop Capital reduced their target price on ServiceTitan from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, March 14th. Robert W. Baird began coverage on ServiceTitan in a research report on Friday, December 27th. They set an “outperform” rating and a $117.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $125.00 price target on shares of ServiceTitan in a report on Wednesday, April 9th. Finally, Stifel Nicolaus decreased their price objective on shares of ServiceTitan from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.54.

ServiceTitan Stock Performance

The business’s fifty day simple moving average is $95.68.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Monday, January 13th. The company reported ($1.18) earnings per share for the quarter. On average, analysts predict that ServiceTitan Inc. will post -1.98 EPS for the current fiscal year.

Insider Activity at ServiceTitan

In related news, CAO Michele O’connor sold 5,494 shares of ServiceTitan stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $520,007.10. Following the completion of the transaction, the chief accounting officer now owns 89,302 shares in the company, valued at $8,452,434.30. The trade was a 5.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $963,063.75. Following the transaction, the chief financial officer now owns 325,409 shares in the company, valued at $30,799,961.85. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Deer Management Co. LLC purchased a new stake in shares of ServiceTitan during the fourth quarter worth approximately $925,943,000. TPG GP A LLC purchased a new stake in shares of ServiceTitan during the fourth quarter worth $525,405,000. Battery Management Corp. acquired a new stake in shares of ServiceTitan in the fourth quarter valued at about $496,599,000. Price T Rowe Associates Inc. MD purchased a new position in shares of ServiceTitan in the fourth quarter worth about $233,937,000. Finally, Dragoneer Investment Group LLC acquired a new position in ServiceTitan during the fourth quarter worth about $210,777,000.

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.