Brokerages Set ServiceTitan Inc. (NASDAQ:TTAN) PT at $113.56

Shares of ServiceTitan Inc. (NASDAQ:TTAN) have received an average rating of “Moderate Buy” from the twenty analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $113.5625.

A number of equities analysts have issued reports on TTAN shares. BMO Capital Markets decreased their target price on ServiceTitan from $108.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 13th. Truist Financial decreased their target price on ServiceTitan from $130.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. William Blair restated an “outperform” rating on shares of ServiceTitan in a research report on Friday, March 13th. Stifel Nicolaus decreased their target price on ServiceTitan from $145.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Finally, BTIG Research decreased their target price on ServiceTitan from $130.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th.

ServiceTitan Stock Down 0.2%

Shares of TTAN opened at $62.90 on Wednesday. ServiceTitan has a 52 week low of $58.01 and a 52 week high of $131.33. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of -36.57 and a beta of -0.14. The stock’s 50-day moving average price is $68.59 and its 200-day moving average price is $87.78.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $253.99 million for the quarter, compared to the consensus estimate of $245.47 million. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The company’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share. As a group, equities analysts anticipate that ServiceTitan will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ara Mahdessian sold 2,288 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total value of $159,839.68. Following the completion of the sale, the chief executive officer owned 1 shares of the company’s stock, valued at approximately $69.86. This trade represents a 99.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michele O’connor sold 5,154 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $360,058.44. Following the completion of the sale, the chief accounting officer directly owned 84,416 shares of the company’s stock, valued at approximately $5,897,301.76. This represents a 5.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 61,418 shares of company stock worth $5,227,669 in the last three months. Company insiders own 51.72% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds and other institutional investors have recently made changes to their positions in TTAN. Rockefeller Capital Management L.P. increased its stake in ServiceTitan by 758.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,811 shares of the company’s stock worth $193,000 after acquiring an additional 1,600 shares during the last quarter. Sunbelt Securities Inc. increased its stake in ServiceTitan by 391.0% during 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 last quarter. Axxcess Wealth Management LLC acquired a new stake in ServiceTitan during the fourth quarter worth $229,000. Vident Advisory LLC increased its stake in ServiceTitan by 63.9% during the fourth quarter. Vident Advisory LLC now owns 4,824 shares of the company’s stock worth $514,000 after acquiring an additional 1,881 shares during the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new stake in ServiceTitan during the fourth quarter worth $281,000.

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.