ServiceTitan Inc. (NASDAQ:TTAN) Stock Has Consensus Target Price of $96.38

ServiceTitan Inc. (NASDAQ:TTAN) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One 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 12-month price target among brokerages that have issued a report on the stock in the last year is $96.38.

A number of research analysts have recently commented on TTAN shares. Citigroup dropped their price objective on shares of ServiceTitan from $83.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, September 9th. Piper Sandler decreased their target price on shares of ServiceTitan from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. TD Cowen restated a “buy” rating and issued a $100.00 target price on shares of ServiceTitan in a report on Wednesday, October 7th. BMO Capital Markets dropped their price objective on ServiceTitan from $103.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, September 9th. Finally, Morgan Stanley cut their target price on ServiceTitan from $124.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th.

ServiceTitan Price Performance

ServiceTitan stock opened at $85.20 on Friday. The stock has a market capitalization of $8.22 billion, a P/E ratio of -62.65 and a beta of 0.33. ServiceTitan has a 12-month low of $53.00 and a 12-month high of $111.36. The firm’s 50-day moving average is $75.92 and its two-hundred day moving average is $72.03.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $292.76 million during the quarter, compared to analyst estimates of $285.89 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The company’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 earnings per share. As a group, analysts forecast that ServiceTitan will post -0.55 EPS for the current year.

Insider Activity

In related news, President Vahe Kuzoyan sold 114,732 shares of ServiceTitan 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Sherry sold 23,246 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $1,326,649.22. Following the completion of the transaction, the chief financial officer directly owned 363,511 shares in the company, valued at $20,745,572.77. This represents a 6.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 268,814 shares of company stock valued at $22,294,608. 39.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServiceTitan

Hedge funds have recently made changes to their positions in the business. Madison Asset Management LLC increased its stake in shares of ServiceTitan by 41.1% during the first quarter. Madison Asset Management LLC now owns 900,112 shares of the company’s stock valued at $57,121,000 after acquiring an additional 262,037 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of ServiceTitan by 1.5% during the first quarter. Janus Henderson Group PLC now owns 783,560 shares of the company’s stock valued at $49,724,000 after purchasing an additional 11,362 shares during the last quarter. Royal Bank of Canada increased its stake in ServiceTitan by 36.1% in the 1st quarter. Royal Bank of Canada now owns 433,122 shares of the company’s stock worth $27,485,000 after purchasing an additional 114,859 shares in the last quarter. Jennison Associates LLC increased its stake in ServiceTitan by 235.3% in the 1st quarter. Jennison Associates LLC now owns 380,468 shares of the company’s stock worth $24,145,000 after purchasing an additional 267,002 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in ServiceTitan by 258.7% during the 2nd quarter. Wellington Management Group LLP now owns 316,695 shares of the company’s stock worth $22,394,000 after buying an additional 228,417 shares during the period.

ServiceTitan Company Profile

ServiceTitan, Inc provides cloud-based software designed to help residential and commercial trade contractors manage and grow their businesses. Its platform serves industries including heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service trades.

The company’s software supports core operations such as customer relationship management, marketing, scheduling, dispatching, estimates, invoicing, payments, inventory management, purchasing, payroll, and business reporting.