ServiceTitan (NASDAQ:TTAN) Given New $140.00 Price Target at Piper Sandler

ServiceTitan (NASDAQ:TTAN) had its price target lowered by analysts at Piper Sandler from $155.00 to $140.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 46.46% from the company’s previous close.

Several other brokerages have also recently issued reports on TTAN. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a report on Monday. Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of ServiceTitan in a report on Friday, September 5th. Morgan Stanley reaffirmed an “outperform” rating on shares of ServiceTitan in a research note on Friday. Raymond James Financial assumed coverage on ServiceTitan in a research report on Friday, August 29th. They set a “market perform” rating for the company. Finally, BMO Capital Markets raised their target price on shares of ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, ServiceTitan currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.40.

ServiceTitan Stock Up 2.4%

NASDAQ TTAN opened at $95.59 on Friday. ServiceTitan has a 12 month low of $79.81 and a 12 month high of $131.33. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.07. The stock has a market cap of $8.89 billion and a PE ratio of -17.70. The stock’s 50 day moving average is $94.43 and its 200 day moving average is $104.86.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. The firm had revenue of $249.16 million during the quarter, compared to analyst estimates of $238.26 million. ServiceTitan had a negative net margin of 26.08% and a negative return on equity of 16.87%. ServiceTitan’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. Research analysts predict that ServiceTitan will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Bessemer Venture Partners Viii sold 492 shares of ServiceTitan stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $101.33, for a total value of $49,854.36. Following the completion of the transaction, the insider owned 7,089,795 shares in the company, valued at approximately $718,408,927.35. The trade was a 0.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Sherry sold 833 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $86.20, for a total value of $71,804.60. Following the transaction, the chief financial officer directly owned 345,952 shares in the company, valued at approximately $29,821,062.40. This represents a 0.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,121,690 shares of company stock valued at $126,740,332 over the last quarter. Company insiders own 51.72% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds and other institutional investors have recently made changes to their positions in TTAN. CIBC Bancorp USA Inc. purchased a new position in shares of ServiceTitan during the 3rd quarter worth about $84,983,000. Dark Forest Capital Management LP bought a new stake in ServiceTitan in the third quarter worth about $1,677,000. Voleon Capital Management LP bought a new stake in ServiceTitan in the third quarter worth about $1,945,000. Voloridge Investment Management LLC boosted its position in shares of ServiceTitan by 306.3% during the third quarter. Voloridge Investment Management LLC now owns 500,045 shares of the company’s stock valued at $50,420,000 after buying an additional 376,980 shares during the period. Finally, Verition Fund Management LLC grew its stake in shares of ServiceTitan by 113.4% during the third quarter. Verition Fund Management LLC now owns 83,671 shares of the company’s stock valued at $8,437,000 after buying an additional 44,470 shares during the last quarter.

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.