ServiceTitan (NASDAQ:TTAN) Given “Buy” Rating at BTIG Research

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $110.00 target price on the stock. BTIG Research’s price objective suggests a potential upside of 63.14% from the stock’s current price.

Several other research firms have also commented on TTAN. Morgan Stanley dropped their target price on ServiceTitan from $124.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Robert W. Baird dropped their target price on ServiceTitan from $101.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. TD Cowen reiterated a “buy” rating and issued a $100.00 target price on shares of ServiceTitan in a research note on Friday, September 25th. UBS Group set a $100.00 target price on shares of ServiceTitan in a report on Wednesday, September 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of ServiceTitan in a report on Wednesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceTitan has an average rating of “Moderate Buy” and a consensus target price of $96.38.

ServiceTitan Stock Up 0.1%

TTAN opened at $67.43 on Friday. The firm has a market cap of $6.50 billion, a P/E ratio of -49.47 and a beta of 0.34. ServiceTitan has a 52 week low of $53.00 and a 52 week high of $111.36. The business’s fifty day simple moving average is $78.72 and its 200 day simple moving average is $71.02.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.90 million. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%.The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. As a group, equities analysts expect that ServiceTitan will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceTitan news, CAO Michele O’connor sold 5,581 shares of ServiceTitan stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $318,507.67. Following the sale, the chief accounting officer directly owned 66,095 shares in the company, valued at $3,772,041.65. The trade was a 7.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 that occurred on Tuesday, August 11th. The stock was sold at an average price of $88.84, for a total value of $10,192,790.88. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 324,533 shares of company stock worth $26,813,042 in the last 90 days. 39.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TTAN. State of Wyoming acquired a new stake in shares of ServiceTitan during the first quarter worth $48,000. Elevation Wealth Partners LLC boosted its holdings in shares of ServiceTitan by 20.0% during the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after acquiring an additional 144 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of ServiceTitan by 75.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,586 shares of the company’s stock valued at $101,000 after acquiring an additional 680 shares during the period. Parallel Advisors LLC raised its holdings in shares of ServiceTitan by 226.4% during the first quarter. Parallel Advisors LLC now owns 1,717 shares of the company’s stock valued at $109,000 after buying an additional 1,191 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of ServiceTitan by 101.6% during the first quarter. KBC Group NV now owns 1,730 shares of the company’s stock valued at $110,000 after buying an additional 872 shares during 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.