ServiceTitan’s (TTAN) Buy Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of ServiceTitan (NASDAQ:TTAN) in a report published on Friday,Benzinga reports. BTIG Research currently has a $110.00 target price on the stock.

Other analysts also recently issued reports about the stock. Robert W. Baird cut their target price on shares of ServiceTitan from $101.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. UBS Group set a $100.00 target price on ServiceTitan in a research report on Wednesday, September 9th. BMO Capital Markets lowered their price target on ServiceTitan from $103.00 to $90.00 and set an “outperform” rating on the stock in a report on Wednesday, September 9th. Citigroup dropped their price target on ServiceTitan from $83.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 9th. Finally, Canaccord Genuity Group reduced their price objective on ServiceTitan from $105.00 to $90.00 and set a “buy” rating for the company in a research note 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $96.38.

ServiceTitan Stock Performance

NASDAQ TTAN opened at $67.09 on Friday. The stock’s 50-day moving average price is $78.65 and its two-hundred day moving average price is $71.00. The company has a market cap of $6.47 billion, a PE ratio of -49.33 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 announced its earnings results on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $292.76 million during the quarter, compared to analysts’ expectations of $285.89 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the company posted $0.33 earnings per share. Research analysts forecast that ServiceTitan will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at ServiceTitan

In other news, CEO Ara Mahdessian sold 51,947 shares of the stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Sherry sold 23,246 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer owned 363,511 shares in the company, valued at $20,745,572.77. This represents a 6.01% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 324,533 shares of company stock worth $26,813,042 in the last ninety days. Insiders own 39.89% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

Large investors have recently bought and sold shares of the business. Tidal Investments LLC increased its position in ServiceTitan by 598.9% during the second quarter. Tidal Investments LLC now owns 27,963 shares of the company’s stock worth $1,977,000 after buying an additional 23,962 shares during the last quarter. Whetstone Capital Advisors LLC acquired a new stake in shares of ServiceTitan in the second quarter worth about $3,275,000. WINTON GROUP Ltd bought a new stake in shares of ServiceTitan during the 2nd quarter worth about $5,218,000. Integrated Wealth Concepts LLC bought a new stake in shares of ServiceTitan during the 2nd quarter worth about $115,000. Finally, NewEdge Advisors LLC increased its holdings in shares of ServiceTitan by 7,677.2% during the 2nd quarter. NewEdge Advisors LLC now owns 8,866 shares of the company’s stock valued at $627,000 after acquiring an additional 8,752 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.