ServiceTitan (NASDAQ:TTAN) Earns “Buy” Rating from BTIG Research

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research report issued on Friday, Benzinga reports. They presently have a $110.00 target price on the stock. BTIG Research’s price objective points to a potential upside of 60.19% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Citigroup lowered their target price on ServiceTitan from $83.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, September 9th. KeyCorp lowered their target price on ServiceTitan from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of ServiceTitan in a report on Wednesday, September 9th. BMO Capital Markets lowered their target price on ServiceTitan from $103.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, September 9th. Finally, Stifel Nicolaus lowered their target price on ServiceTitan from $125.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.38.

ServiceTitan Trading Down 4.8%

TTAN stock opened at $68.67 on Friday. The stock has a 50-day moving average price of $78.40 and a two-hundred day moving average price of $71.01. The stock has a market cap of $6.62 billion, a PE ratio of -50.49 and a beta of 0.33. ServiceTitan has a 1 year low of $53.00 and a 1 year high of $111.36.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $292.76 million during the quarter, compared to analysts’ expectations of $285.90 million. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%.The company’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS. On average, analysts forecast that ServiceTitan will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceTitan

In other news, CFO David Sherry sold 23,246 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $57.07, for a total transaction of $1,326,649.22. Following the completion of the transaction, the chief financial officer directly owned 363,511 shares in the company, valued at $20,745,572.77. This represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Michele O’connor sold 5,581 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $318,507.67. Following the transaction, the chief accounting officer owned 66,095 shares of the company’s stock, valued at approximately $3,772,041.65. This represents a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 267,676 shares of company stock valued at $22,209,008. Corporate insiders own 39.89% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

Hedge funds have recently bought and sold shares of the company. State of Wyoming acquired a new stake in ServiceTitan in the 1st quarter valued at about $48,000. Elevation Wealth Partners LLC lifted its stake in ServiceTitan by 20.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after purchasing an additional 144 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in ServiceTitan by 75.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,586 shares of the company’s stock valued at $101,000 after purchasing an additional 680 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in ServiceTitan in the 2nd quarter valued at about $115,000. Finally, Parallel Advisors LLC lifted its stake in ServiceTitan by 226.4% in the 1st quarter. Parallel Advisors LLC now owns 1,717 shares of the company’s stock valued at $109,000 after purchasing an additional 1,191 shares during the last quarter.

ServiceTitan Company Profile

ServiceTitan, Inc is a cloud-based software company that provides business management solutions for residential and commercial contractors. Its platform is designed for companies in the trades, including heating, ventilation and air conditioning (HVAC), plumbing, electrical, roofing, landscaping and related services.

ServiceTitan’s products support a range of operational and customer-facing functions, including scheduling and dispatching, customer relationship management, estimates, invoicing, payments, marketing, reporting and field-service management.