ServiceTitan (NASDAQ:TTAN) Price Target Lowered to $140.00 at Piper Sandler

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

TTAN has been the topic of several other research reports. BMO Capital Markets increased their price objective on ServiceTitan from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a report on Monday. Citigroup raised their price target on ServiceTitan from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Tuesday, September 9th. UBS Group restated a “buy” rating on shares of ServiceTitan in a report on Monday. Finally, Loop Capital upgraded shares of ServiceTitan from a “hold” rating to a “buy” rating and increased their target price for the stock from $100.00 to $140.00 in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.40.

ServiceTitan Trading Up 2.4%

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

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

Insider Buying and Selling

In other ServiceTitan news, CEO Ara Mahdessian sold 46,542 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $91.40, for a total transaction of $4,253,938.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Sherry sold 833 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $86.20, for a total transaction of $71,804.60. Following the completion of the sale, the chief financial officer owned 345,952 shares in the company, valued at $29,821,062.40. This represents a 0.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,121,690 shares of company stock worth $126,740,332 in the last three months. 51.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceTitan

A number of hedge funds and other institutional investors have recently bought and sold shares of TTAN. XTX Topco Ltd acquired a new stake in ServiceTitan in the first quarter valued at approximately $324,000. Vanguard Group Inc. lifted its holdings in shares of ServiceTitan by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 701,060 shares of the company’s stock valued at $66,678,000 after purchasing an additional 143,574 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in shares of ServiceTitan in the 1st quarter worth $7,255,000. Burkehill Global Management LP grew its stake in ServiceTitan by 100.0% during the 1st quarter. Burkehill Global Management LP now owns 100,000 shares of the company’s stock worth $9,511,000 after buying an additional 50,000 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in ServiceTitan by 194.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 147,578 shares of the company’s stock valued at $14,036,000 after buying an additional 97,426 shares in 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.