BTIG Research Reaffirms “Buy” Rating for ServiceTitan (NASDAQ:TTAN)

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a research note issued on Friday, Benzinga reports. They presently have a $110.00 price target on the stock. BTIG Research’s price target would suggest a potential upside of 63.35% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets dropped their target price on shares of ServiceTitan from $103.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Wells Fargo & Company dropped their target price on shares of ServiceTitan from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. KeyCorp lowered their price target on shares of ServiceTitan from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. Robert W. Baird lowered their price target on shares of ServiceTitan from $101.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, September 9th. Finally, Piper Sandler lowered their price target on shares of ServiceTitan from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.38.

ServiceTitan Trading Up 2.4%

Shares of NASDAQ TTAN opened at $67.34 on Friday. ServiceTitan has a 1-year low of $53.00 and a 1-year high of $111.36. The company has a market cap of $6.50 billion, a PE ratio of -49.51 and a beta of 0.34. The company has a 50-day moving average of $78.72 and a two-hundred day moving average of $71.02.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The company had revenue of $292.76 million during the quarter, compared to the consensus estimate of $285.90 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. As a group, equities research analysts forecast that ServiceTitan will post -0.53 earnings per share for the current year.

Insider Activity at ServiceTitan

In other ServiceTitan news, CEO Ara Mahdessian sold 51,947 shares of ServiceTitan stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total value of $4,206,668.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Vahe Kuzoyan sold 114,732 shares of ServiceTitan stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $88.84, for a total transaction 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. In the last three months, insiders sold 324,533 shares of company stock worth $26,813,042. Corporate insiders own 39.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TTAN. Elevation Wealth Partners LLC lifted its position in shares of ServiceTitan by 20.0% in the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after purchasing an additional 144 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of ServiceTitan by 75.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,586 shares of the company’s stock worth $101,000 after purchasing an additional 680 shares in the last quarter. State of Wyoming bought a new stake in shares of ServiceTitan in the first quarter worth $48,000. First Bank & Trust lifted its position in shares of ServiceTitan by 24.2% in the second quarter. First Bank & Trust now owns 4,426 shares of the company’s stock worth $313,000 after purchasing an additional 862 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of ServiceTitan by 101.6% in the first quarter. KBC Group NV now owns 1,730 shares of the company’s stock worth $110,000 after purchasing an additional 872 shares in the last quarter.

ServiceTitan Company Profile

ServiceTitan, Inc is a cloud-based software company that provides business management solutions for residential and commercial contractors. Its platform is designed for companies in the trades, including heating, ventilation and air conditioning (HVAC), plumbing, electrical, roofing, landscaping and related services.

ServiceTitan’s products support a range of operational and customer-facing functions, including scheduling and dispatching, customer relationship management, estimates, invoicing, payments, marketing, reporting and field-service management.