ServiceTitan Inc. (NASDAQ:TTAN) Receives $108.93 Average Price Target from Brokerages

ServiceTitan Inc. (NASDAQ:TTAN) has been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $108.9286.

A number of brokerages have recently issued reports on TTAN. BTIG Research reaffirmed a “buy” rating and set a $110.00 price target on shares of ServiceTitan in a report on Friday, July 10th. TD Cowen boosted their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, June 5th. Citigroup restated a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. BMO Capital Markets raised their target price on shares of ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, June 5th. Finally, Piper Sandler lifted their target price on shares of ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN opened at $92.17 on Friday. The company has a market cap of $8.79 billion, a P/E ratio of -63.57 and a beta of 0.10. ServiceTitan has a 1 year low of $54.17 and a 1 year high of $119.99. The stock’s fifty day moving average price is $83.12 and its 200-day moving average price is $71.99.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data 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 company had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. During the same period last year, the company earned $0.18 EPS. ServiceTitan’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceTitan will post -0.54 earnings per share for the current year.

Insider Transactions at ServiceTitan

In related news, President Vahe Kuzoyan sold 114,732 shares of ServiceTitan stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $88.84, for a total value of $10,192,790.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of ServiceTitan stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the sale, the insider directly owned 443,221 shares of the company’s stock, valued at $28,113,508.03. The trade was a 17.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 524,837 shares of company stock worth $39,894,622. Company insiders own 39.89% of the company’s stock.

Hedge Funds Weigh In On ServiceTitan

Several institutional investors have recently made changes to their positions in TTAN. Farther Finance Advisors LLC grew its position in ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after buying an additional 174 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after acquiring an additional 392 shares during the period. State of Wyoming bought a new position in ServiceTitan in the first quarter worth approximately $48,000. Sunbelt Securities Inc. boosted its stake in shares of ServiceTitan by 391.0% during the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock worth $52,000 after acquiring an additional 391 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of ServiceTitan by 161.7% during the 3rd quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock worth $53,000 after acquiring an additional 325 shares during the last quarter.

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.