ServiceTitan Inc. (NASDAQ:TTAN) Receives $110.53 Average PT from Analysts

Shares of ServiceTitan Inc. (NASDAQ:TTAN) have been given a consensus recommendation of “Moderate Buy” by the nineteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $110.5333.

TTAN has been the subject of several research analyst reports. UBS Group reissued a “buy” rating on shares of ServiceTitan in a research report on Wednesday, July 22nd. BMO Capital Markets upped their price target on ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, June 5th. BTIG Research reissued a “buy” rating and issued a $110.00 price objective on shares of ServiceTitan in a research report on Friday, July 10th. TD Cowen raised their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research report on Tuesday, July 21st.

ServiceTitan Price Performance

Shares of TTAN opened at $85.59 on Tuesday. The company has a market capitalization of $8.17 billion, a PE ratio of -59.03 and a beta of 0.02. ServiceTitan has a one year low of $54.17 and a one year high of $119.99. The company’s fifty day moving average price is $74.17 and its 200 day moving average price is $69.91.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. Analysts anticipate that ServiceTitan will post -0.54 earnings per share for the current year.

Insider Transactions at ServiceTitan

In other ServiceTitan news, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the sale, the insider directly owned 443,221 shares in the company, valued at $28,113,508.03. This trade represents a 17.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Michele O’connor sold 4,910 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $80.93, for a total transaction of $397,366.30. Following the transaction, the chief accounting officer owned 71,676 shares in the company, valued at approximately $5,800,738.68. The trade was a 6.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 384,717 shares of company stock worth $27,426,649. 39.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ServiceTitan

A number of institutional investors have recently added to or reduced their stakes in TTAN. Woodline Partners LP raised its holdings in ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after acquiring an additional 95 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of ServiceTitan in the 2nd quarter worth approximately $345,000. Russell Investments Group Ltd. bought a new stake in shares of ServiceTitan during the second quarter valued at approximately $500,000. Northwestern Mutual Wealth Management Co. increased its position in shares of ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 392 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of ServiceTitan during the second quarter valued at approximately $393,000.

ServiceTitan Company Profile

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.