BMO Capital Markets Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $90.00

ServiceTitan (NASDAQ:TTAN) had its price target dropped by investment analysts at BMO Capital Markets from $103.00 to $90.00 in a report released on Wednesday, Briefing.com reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 10.32% from the company’s current price.

Other analysts have also issued reports about the stock. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a research note on Monday, June 8th. BTIG Research reiterated a “buy” rating and set a $110.00 target price on shares of ServiceTitan in a research note on Wednesday. KeyCorp decreased their target price on shares of ServiceTitan from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday. Truist Financial reissued a “buy” rating and set a $110.00 price target (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. Finally, Robert W. Baird lifted their price objective on ServiceTitan from $94.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ServiceTitan currently has an average rating of “Moderate Buy” and an average target price of $105.13.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN opened at $81.58 on Wednesday. The company has a market cap of $7.78 billion, a P/E ratio of -56.26 and a beta of 0.11. ServiceTitan has a 1 year low of $54.17 and a 1 year high of $119.99. The stock’s fifty day moving average price is $84.66 and its 200-day moving average price is $72.69.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The company had revenue of $292.76 million during the quarter, compared to the consensus estimate of $285.89 million. During the same period last year, the company earned $0.33 EPS. ServiceTitan’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceTitan will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Ara Mahdessian sold 51,947 shares of ServiceTitan stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Vahe Kuzoyan sold 114,732 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was 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 sold 514,837 shares of company stock worth $39,203,222 in the last quarter. Company insiders own 39.89% of the company’s stock.

Hedge Funds Weigh In On ServiceTitan

Several institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after acquiring an additional 392 shares during the last quarter. State of Wyoming purchased a new position in ServiceTitan during the first quarter worth $48,000. Sunbelt Securities Inc. boosted its stake in ServiceTitan by 391.0% during the fourth quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock worth $52,000 after buying an additional 391 shares during the period. Parallel Advisors LLC increased its position in ServiceTitan by 161.7% during the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock valued at $53,000 after acquiring an additional 325 shares during the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in ServiceTitan by 20.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after purchasing an additional 144 shares during the last quarter.

ServiceTitan News Summary

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan reported fiscal Q2 adjusted earnings of $0.40 per share, above the roughly $0.35-$0.36 analyst consensus, while revenue of $292.76 million exceeded expectations near $285.9 million. Revenue increased 20.9% year over year, and earnings improved from $0.33 per share in the prior-year quarter. ServiceTitan Announces Fiscal Second Quarter Financial Results
• Positive Sentiment: The quarterly results suggest continued demand for ServiceTitan’s software platform for the trades, with revenue growth and profitability ahead of Wall Street expectations. ServiceTitan Q2 Earnings and Revenues Surpass Estimates
• Neutral Sentiment: ServiceTitan appointed company veteran Rikus Pretorius as its next chief revenue officer. Current CRO Ross Biestman will remain through the end of the fiscal year, making the transition orderly but adding uncertainty around the sales organization’s execution. ServiceTitan Names Rikus Pretorius Next Chief Revenue Officer
• Negative Sentiment: Fiscal Q3 revenue guidance of $285 million-$287 million came in slightly below the $287.8 million consensus estimate. The outlook, combined with the CRO transition, overshadowed the strong Q2 results and has led to a sharp decline in the stock. Why ServiceTitan Stock Is Diving After Earnings Beat
• Negative Sentiment: Management’s sales-leadership shakeup is raising investor concerns about growth execution, particularly because the company remains unprofitable on a GAAP basis and analysts expect a full-year loss. ServiceTitan Tumbles as Management Shakeup Overshadows Results

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.