BTIG Research Reaffirms Buy Rating for ServiceTitan (NASDAQ:TTAN)

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $110.00 target price on the stock. BTIG Research’s price objective indicates a potential upside of 34.84% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a report on Monday, August 24th. Truist Financial reiterated a “buy” rating and issued a $110.00 price target (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th. Citigroup reissued a “neutral” rating on shares of ServiceTitan in a research note on Monday, June 8th. Evercore set a $90.00 target price on shares of ServiceTitan in a research note on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of ServiceTitan in a research report on Wednesday. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.33.

ServiceTitan Stock Down 7.2%

NASDAQ:TTAN opened at $81.58 on Wednesday. The firm’s fifty day simple moving average is $84.66 and its 200 day simple moving average is $72.69. The stock has a market cap of $7.78 billion, a P/E ratio of -56.26 and a beta of 0.11. ServiceTitan has a twelve month low of $54.17 and a twelve month high of $119.99.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business had revenue of $292.76 million during the quarter, compared to analyst estimates of $285.89 million. During the same period last year, the business posted $0.33 earnings per share. ServiceTitan’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, analysts expect that ServiceTitan will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ara Mahdessian sold 51,947 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total transaction of $4,206,668.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Sherry sold 20,192 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total transaction of $1,336,508.48. Following the transaction, the chief financial officer owned 398,033 shares in the company, valued at approximately $26,345,804.27. This trade represents a 4.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 514,837 shares of company stock worth $39,203,222 in the last quarter. Insiders own 39.89% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ServiceTitan by 1,005.1% during the 2nd 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 during the period. State of Wyoming bought a new stake in shares of ServiceTitan in the first quarter worth $48,000. Sunbelt Securities Inc. grew its holdings in shares of ServiceTitan by 391.0% in the fourth quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock worth $52,000 after acquiring an additional 391 shares during the period. Parallel Advisors LLC increased its position in ServiceTitan by 161.7% during 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, Elevation Wealth Partners LLC increased its position in ServiceTitan by 20.0% during the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after acquiring an additional 144 shares during 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

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.