ServiceTitan (NASDAQ:TTAN) Given New $110.00 Price Target at KeyCorp

ServiceTitan (NASDAQ:TTAN) had its price target reduced by analysts at KeyCorp from $120.00 to $110.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 34.84% from the company’s previous close.

TTAN has been the subject of a number of other reports. Evercore set a $90.00 target price on shares of ServiceTitan in a research note on Wednesday. Weiss Ratings upgraded ServiceTitan from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of ServiceTitan in a research report on Wednesday. Piper Sandler reduced their price target on ServiceTitan from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets lifted their price objective on shares of ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.67.

ServiceTitan Stock Performance

NASDAQ TTAN opened at $81.58 on Wednesday. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of -56.26 and a beta of 0.11. The business has a 50 day simple moving average of $84.66 and a 200 day simple moving average of $72.69. ServiceTitan has a 52-week low of $54.17 and a 52-week high of $119.99.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The firm had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.89 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The business’s revenue was up 20.9% on a year-over-year basis. On average, analysts predict that ServiceTitan will post -0.54 EPS for the current year.

Insider Buying and Selling

In related news, President Vahe Kuzoyan sold 16,388 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $88.95, for a total transaction of $1,457,712.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Byron Deeter sold 8,845 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $63.35, for a total transaction of $560,330.75. Following the sale, the director directly owned 13,782 shares in the company, valued at $873,089.70. This trade represents a 39.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 514,837 shares of company stock worth $39,203,222 in the last quarter. 39.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of ServiceTitan by 1,005.1% in the 2nd 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. State of Wyoming bought a new position in ServiceTitan during the first quarter worth about $48,000. Sunbelt Securities Inc. increased its position 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 buying an additional 391 shares during the last quarter. Parallel Advisors LLC raised its stake in ServiceTitan by 161.7% in the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock valued at $53,000 after buying an additional 325 shares during the period. Finally, Elevation Wealth Partners LLC raised its stake in ServiceTitan by 20.0% in the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after buying an additional 144 shares during the period.

ServiceTitan News Summary

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan reported fiscal Q2 adjusted earnings of $0.40 per share, above the roughly $0.35-$0.36 analyst consensus, while revenue of $292.76 million exceeded expectations near $285.9 million. Revenue increased 20.9% year over year, and earnings improved from $0.33 per share in the prior-year quarter. ServiceTitan Announces Fiscal Second Quarter Financial Results
• Positive Sentiment: The quarterly results suggest continued demand for ServiceTitan’s software platform for the trades, with revenue growth and profitability ahead of Wall Street expectations. ServiceTitan Q2 Earnings and Revenues Surpass Estimates
• Neutral Sentiment: ServiceTitan appointed company veteran Rikus Pretorius as its next chief revenue officer. Current CRO Ross Biestman will remain through the end of the fiscal year, making the transition orderly but adding uncertainty around the sales organization’s execution. ServiceTitan Names Rikus Pretorius Next Chief Revenue Officer
• Negative Sentiment: Fiscal Q3 revenue guidance of $285 million-$287 million came in slightly below the $287.8 million consensus estimate. The outlook, combined with the CRO transition, overshadowed the strong Q2 results and has led to a sharp decline in the stock. Why ServiceTitan Stock Is Diving After Earnings Beat
• Negative Sentiment: Management’s sales-leadership shakeup is raising investor concerns about growth execution, particularly because the company remains unprofitable on a GAAP basis and analysts expect a full-year loss. ServiceTitan Tumbles as Management Shakeup Overshadows Results

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.