ServiceTitan (NASDAQ:TTAN) Given New $85.00 Price Target at Robert W. Baird

ServiceTitan (NASDAQ:TTAN) had its target price cut by analysts at Robert W. Baird from $101.00 to $85.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 4.19% from the company’s previous close.

TTAN has been the topic of several other reports. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a research note on Monday, June 8th. TD Cowen lifted their price target 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. Stifel Nicolaus set a $125.00 target price on shares of ServiceTitan in a research report on Wednesday, May 27th. Wells Fargo & Company reiterated an “overweight” rating and set a $105.00 price objective on shares of ServiceTitan in a research report on Wednesday. Finally, UBS Group reiterated a “buy” rating on shares of ServiceTitan in a research note on Wednesday, July 22nd. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $104.07.

ServiceTitan Price Performance

TTAN opened at $81.58 on Wednesday. The firm has a market cap of $7.78 billion, a PE ratio of -56.26 and a beta of 0.11. The stock has a 50-day moving average price of $84.66 and a 200-day moving average price of $72.69. ServiceTitan has a 1 year low of $54.17 and a 1 year high of $119.99.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $292.76 million for the quarter, compared to the consensus estimate of $285.89 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. ServiceTitan’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. As a group, sell-side analysts anticipate that ServiceTitan will post -0.54 EPS for the current year.

Insider Activity at ServiceTitan

In other news, Director William Griffith sold 94,415 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the completion of the transaction, the director directly owned 443,221 shares in the company, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Sherry sold 20,192 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total transaction of $1,336,508.48. Following the completion of the transaction, the chief financial officer directly owned 398,033 shares of the company’s stock, valued at approximately $26,345,804.27. The trade was a 4.83% decrease in their position. 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. Insiders sold 514,837 shares of company stock valued at $39,203,222 in the last 90 days. 39.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after acquiring an additional 392 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in shares of ServiceTitan by 391.0% in the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock valued at $52,000 after purchasing an additional 391 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of ServiceTitan by 161.7% during the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock valued at $53,000 after purchasing an additional 325 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in ServiceTitan during the fourth quarter valued at approximately $68,000. Finally, State of Wyoming purchased a new position in ServiceTitan during the first quarter valued at approximately $48,000.

More ServiceTitan News

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan reported quarterly EPS of $0.40, above the $0.35 consensus estimate, while revenue rose 20.9% year over year to $292.76 million, exceeding expectations of approximately $285.9 million. ServiceTitan fiscal second-quarter results
• Positive Sentiment: BTIG Research reaffirmed its “buy” rating and set a $110 price target, implying substantial upside from the stock’s current level. ServiceTitan analyst expectations

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.