ServiceTitan’s (TTAN) Buy Rating Reaffirmed at Needham & Company LLC

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $100.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 50.22% from the company’s current price.

Other research analysts have also issued research reports about the company. TD Cowen boosted their price objective on ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Robert W. Baird boosted their price objective on ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Stifel Nicolaus set a $125.00 price objective on ServiceTitan in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a report on Friday, April 24th. Finally, Truist Financial reissued a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ServiceTitan has an average rating of “Moderate Buy” and an average target price of $110.53.

ServiceTitan Stock Down 3.2%

Shares of NASDAQ TTAN opened at $66.57 on Wednesday. ServiceTitan has a 52 week low of $54.17 and a 52 week high of $119.99. The business has a 50-day simple moving average of $64.23 and a two-hundred day simple moving average of $77.10. The company has a market cap of $6.35 billion, a P/E ratio of -45.91 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The business had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. During the same quarter last year, the company earned $0.18 EPS. The firm’s revenue was up 24.6% compared to the same quarter last year. Equities research analysts anticipate that ServiceTitan will post -0.54 EPS for the current year.

Insider Buying and Selling

In other ServiceTitan news, CAO Michele O’connor sold 10,000 shares of ServiceTitan stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $69.14, for a total value of $691,400.00. Following the transaction, the chief accounting officer directly owned 81,890 shares of the company’s stock, valued at $5,661,874.60. The trade was a 10.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 39.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On ServiceTitan

A number of large investors have recently bought and sold shares of TTAN. Woodline Partners LP increased its stake in ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after purchasing an additional 95 shares during the period. Cetera Investment Advisers purchased a new position in ServiceTitan in the 2nd quarter worth approximately $345,000. Russell Investments Group Ltd. purchased a new position in ServiceTitan in the 2nd quarter worth approximately $500,000. Northwestern Mutual Wealth Management Co. increased its stake in ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after purchasing an additional 392 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in ServiceTitan in the 2nd quarter worth approximately $393,000.

About ServiceTitan

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.