Needham & Company LLC Reaffirms Buy Rating for ServiceTitan (NASDAQ:TTAN)

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $125.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 51.81% from the company’s current price.

A number of other brokerages also recently issued reports on TTAN. Morgan Stanley set a $104.00 price target on ServiceTitan in a report on Tuesday, January 14th. Citigroup upped their target price on shares of ServiceTitan from $109.00 to $113.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Canaccord Genuity Group initiated coverage on shares of ServiceTitan in a research note on Monday, January 6th. They issued a “buy” rating and a $120.00 price target for the company. Piper Sandler began coverage on shares of ServiceTitan in a research report on Monday, January 6th. They set an “overweight” rating and a $125.00 price objective on the stock. Finally, KeyCorp began coverage on shares of ServiceTitan in a report on Monday, January 6th. They issued an “overweight” rating and a $120.00 target price on the stock. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.42.

ServiceTitan Price Performance

TTAN opened at $82.34 on Friday. ServiceTitan has a 52 week low of $79.81 and a 52 week high of $112.00. The company has a 50 day moving average price of $97.40.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.09. The company had revenue of $209.30 million during the quarter, compared to analysts’ expectations of $200.11 million. The firm’s revenue was up 29.4% on a year-over-year basis. As a group, research analysts expect that ServiceTitan will post -1.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Deer Management Co. LLC bought a new position in ServiceTitan during the fourth quarter valued at $925,943,000. TPG GP A LLC purchased a new stake in shares of ServiceTitan during the 4th quarter valued at about $525,405,000. Battery Management Corp. bought a new position in shares of ServiceTitan in the 4th quarter valued at about $496,599,000. Price T Rowe Associates Inc. MD purchased a new position in ServiceTitan in the fourth quarter worth about $233,937,000. Finally, Dragoneer Investment Group LLC bought a new stake in ServiceTitan during the fourth quarter worth approximately $210,777,000.

About ServiceTitan

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.