ServiceTitan (NASDAQ:TTAN) Sets New 52-Week High – Here’s Why

ServiceTitan Inc. (NASDAQ:TTAN) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $116.39 and last traded at $115.59, with a volume of 710675 shares traded. The stock had previously closed at $105.37.

Wall Street Analysts Forecast Growth

TTAN has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their target price on shares of ServiceTitan from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Truist Financial started coverage on ServiceTitan in a report on Monday, January 6th. They set a “buy” rating and a $120.00 price target for the company. Loop Capital lowered their price objective on shares of ServiceTitan from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, March 14th. Morgan Stanley lifted their price target on shares of ServiceTitan from $104.00 to $107.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Finally, KeyCorp started coverage on shares of ServiceTitan in a report on Monday, January 6th. They set an “overweight” rating and a $120.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ServiceTitan presently has an average rating of “Moderate Buy” and a consensus price target of $114.77.

ServiceTitan Stock Up 9.7 %

The stock’s 50 day simple moving average is $95.09.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Monday, January 13th. The company reported ($1.18) earnings per share for the quarter. Equities analysts forecast that ServiceTitan Inc. will post -1.98 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Michele O’connor sold 5,494 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $520,007.10. Following the completion of the sale, the chief accounting officer now owns 89,302 shares in the company, valued at approximately $8,452,434.30. This trade represents a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David Sherry sold 10,175 shares of ServiceTitan stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $963,063.75. Following the completion of the sale, the chief financial officer now directly owns 325,409 shares in the company, valued at approximately $30,799,961.85. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here.

Institutional Investors Weigh In On ServiceTitan

A number of hedge funds have recently modified their holdings of TTAN. Principal Financial Group Inc. bought a new position in ServiceTitan during the fourth quarter valued at $25,365,000. New York State Common Retirement Fund bought a new position in shares of ServiceTitan during the 4th quarter worth $3,692,000. TimesSquare Capital Management LLC purchased a new stake in ServiceTitan in the 4th quarter worth about $87,896,000. SBI Securities Co. Ltd. bought a new stake in ServiceTitan in the 4th quarter valued at about $26,000. Finally, Victory Capital Management Inc. purchased a new stake in ServiceTitan during the fourth quarter valued at about $10,450,000.

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.