ServiceTitan (NASDAQ:TTAN) Upgraded by BTIG Research to “Strong-Buy” Rating

BTIG Research upgraded shares of ServiceTitan (NASDAQ:TTAN) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Piper Sandler reduced their price objective on ServiceTitan from $155.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, December 5th. Morgan Stanley boosted their price target on ServiceTitan from $118.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, December 5th. Canaccord Genuity Group increased their price objective on shares of ServiceTitan from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Wells Fargo & Company boosted their target price on shares of ServiceTitan from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Finally, Raymond James Financial initiated coverage on shares of ServiceTitan in a research note on Friday, August 29th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $134.25.

ServiceTitan Trading Up 1.5%

Shares of TTAN stock traded up $1.64 on Tuesday, reaching $107.53. 100,991 shares of the stock were exchanged, compared to its average volume of 865,804. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07. The stock has a market cap of $9.99 billion and a P/E ratio of -26.36. The firm has a 50 day moving average of $95.19 and a two-hundred day moving average of $103.80. ServiceTitan has a 1-year low of $79.81 and a 1-year high of $131.33.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The firm had revenue of $249.16 million during the quarter, compared to the consensus estimate of $238.26 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, research analysts anticipate that ServiceTitan will post -1.98 EPS for the current year.

Insider Transactions at ServiceTitan

In related news, President Vahe Kuzoyan sold 16,388 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $102.82, for a total value of $1,685,014.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ara Mahdessian sold 42,666 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $106.85, for a total transaction of $4,558,862.10. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 439,178 shares of company stock valued at $44,448,550. 51.72% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceTitan

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in shares of ServiceTitan in the 3rd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. lifted its stake in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares in the last quarter. Whittier Trust Co. purchased a new position in ServiceTitan during the third quarter valued at approximately $52,000. Parallel Advisors LLC lifted its stake in ServiceTitan by 161.7% in the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock valued at $53,000 after acquiring an additional 325 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in ServiceTitan during the second quarter valued at approximately $79,000.

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.