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

Shares of ServiceTitan Inc. (NASDAQ:TTAN) have received an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $96.38.

Several equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a research note on Wednesday, September 9th. TD Cowen reissued a “buy” rating and issued a $100.00 price target on shares of ServiceTitan in a research note on Friday. BTIG Research reissued a “buy” rating and issued a $110.00 price target on shares of ServiceTitan in a research note on Wednesday, September 9th. Robert W. Baird cut their price target on ServiceTitan from $101.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday, September 9th. Finally, Wells Fargo & Company reduced their price objective on shares of ServiceTitan from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th.

ServiceTitan Price Performance

TTAN stock opened at $58.05 on Wednesday. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of -42.68 and a beta of 0.11. The company’s fifty day simple moving average is $79.42 and its 200 day simple moving average is $71.35. ServiceTitan has a 12-month low of $53.00 and a 12-month high of $111.36.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly 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. The firm had revenue of $292.76 million during the quarter, compared to the consensus estimate of $285.89 million. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%.The business’s revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS. Research analysts expect that ServiceTitan will post -0.53 earnings per share for the current year.

Insider Activity at ServiceTitan

In related news, CEO Ara Mahdessian sold 51,947 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total transaction of $4,206,668.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Vahe Kuzoyan sold 114,732 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was 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. Insiders have sold 324,533 shares of company stock worth $26,813,042 over the last quarter. 39.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ServiceTitan

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming bought a new stake in ServiceTitan in the 1st quarter valued at about $48,000. Elevation Wealth Partners LLC raised its stake in ServiceTitan by 20.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after buying an additional 144 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in ServiceTitan by 30.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after acquiring an additional 209 shares in the last quarter. Parallel Advisors LLC boosted its holdings in ServiceTitan by 226.4% in the first quarter. Parallel Advisors LLC now owns 1,717 shares of the company’s stock worth $109,000 after acquiring an additional 1,191 shares in the last quarter. Finally, KBC Group NV grew its stake in ServiceTitan by 101.6% in the first quarter. KBC Group NV now owns 1,730 shares of the company’s stock valued at $110,000 after acquiring an additional 872 shares during the period.

ServiceTitan Company Profile

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

The company’s products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.