BMO Capital Markets Issues Pessimistic Forecast for ServiceTitan (NASDAQ:TTAN) Stock Price

ServiceTitan (NASDAQ:TTAN) had its price target cut by research analysts at BMO Capital Markets from $103.00 to $90.00 in a research note issued on Wednesday, Briefing.com reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 10.32% from the company’s current price.

TTAN has been the subject of several other reports. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Wednesday, July 22nd. Morgan Stanley upped their price target on shares of ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 price target on shares of ServiceTitan in a report on Wednesday. Robert W. Baird lifted their price objective on shares of ServiceTitan from $94.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Finally, Piper Sandler reduced their target price on ServiceTitan from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.13.

ServiceTitan Price Performance

TTAN opened at $81.58 on Wednesday. The business’s 50-day moving average is $84.66 and its two-hundred day moving average is $72.69. ServiceTitan has a 1 year low of $54.17 and a 1 year high of $119.99. The firm has a market capitalization of $7.78 billion, a PE ratio of -56.26 and a beta of 0.11.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $292.76 million during the quarter, compared to analysts’ expectations of $285.89 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. ServiceTitan’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. As a group, sell-side analysts expect that ServiceTitan will post -0.54 EPS for the current year.

Insiders Place Their Bets

In other news, President Vahe Kuzoyan sold 16,388 shares of ServiceTitan stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $88.95, for a total transaction of $1,457,712.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Byron Deeter sold 8,845 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.35, for a total transaction of $560,330.75. Following the completion of the transaction, the director owned 13,782 shares of the company’s stock, valued at approximately $873,089.70. This represents a 39.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 514,837 shares of company stock worth $39,203,222. Corporate insiders own 39.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new position in shares of ServiceTitan in the second quarter worth about $5,218,000. Integrated Wealth Concepts LLC acquired a new stake in shares of ServiceTitan during the 2nd quarter valued at about $115,000. NewEdge Advisors LLC grew its position in shares of ServiceTitan by 7,677.2% during the 2nd quarter. NewEdge Advisors LLC now owns 8,866 shares of the company’s stock valued at $627,000 after acquiring an additional 8,752 shares during the period. Baird Financial Group Inc. increased its stake in shares of ServiceTitan by 58.8% in the 2nd quarter. Baird Financial Group Inc. now owns 30,752 shares of the company’s stock valued at $2,174,000 after purchasing an additional 11,383 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of ServiceTitan by 46.7% in the 2nd quarter. Allworth Financial LP now owns 5,970 shares of the company’s stock valued at $422,000 after purchasing an additional 1,900 shares in the last quarter.

Key ServiceTitan News

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan reported fiscal Q2 adjusted earnings of $0.40 per share, above the roughly $0.35-$0.36 analyst consensus, while revenue of $292.76 million exceeded expectations near $285.9 million. Revenue increased 20.9% year over year, and earnings improved from $0.33 per share in the prior-year quarter. ServiceTitan Announces Fiscal Second Quarter Financial Results
• Positive Sentiment: The quarterly results suggest continued demand for ServiceTitan’s software platform for the trades, with revenue growth and profitability ahead of Wall Street expectations. ServiceTitan Q2 Earnings and Revenues Surpass Estimates
• Neutral Sentiment: ServiceTitan appointed company veteran Rikus Pretorius as its next chief revenue officer. Current CRO Ross Biestman will remain through the end of the fiscal year, making the transition orderly but adding uncertainty around the sales organization’s execution. ServiceTitan Names Rikus Pretorius Next Chief Revenue Officer
• Negative Sentiment: Fiscal Q3 revenue guidance of $285 million-$287 million came in slightly below the $287.8 million consensus estimate. The outlook, combined with the CRO transition, overshadowed the strong Q2 results and has led to a sharp decline in the stock. Why ServiceTitan Stock Is Diving After Earnings Beat
• Negative Sentiment: Management’s sales-leadership shakeup is raising investor concerns about growth execution, particularly because the company remains unprofitable on a GAAP basis and analysts expect a full-year loss. ServiceTitan Tumbles as Management Shakeup Overshadows Results

ServiceTitan Company Profile

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.