ServiceTitan’s (TTAN) Buy Rating Reiterated at TD Cowen

TD Cowen reaffirmed their buy rating on shares of ServiceTitan (NASDAQ:TTAN) in a report issued on Wednesday morning,Benzinga reports. TD Cowen currently has a $100.00 price objective on the stock.

Other analysts have also issued reports about the stock. Weiss Ratings upgraded shares of ServiceTitan from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 29th. UBS Group set a $100.00 price objective on shares of ServiceTitan in a research note on Wednesday, September 9th. Stifel Nicolaus dropped their price objective on shares of ServiceTitan from $125.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, September 9th. Canaccord Genuity Group dropped their price objective on shares of ServiceTitan from $105.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, September 9th. Finally, BMO Capital Markets cut their target price on shares of ServiceTitan from $103.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. Fourteen research 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.38.

ServiceTitan Trading Down 0.5%

Shares of NASDAQ TTAN opened at $72.59 on Wednesday. ServiceTitan has a twelve month low of $53.00 and a twelve month high of $111.36. The stock has a fifty day simple moving average of $77.80 and a 200-day simple moving average of $71.08. The stock has a market capitalization of $7.00 billion, a PE ratio of -53.37 and a beta of 0.33.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%. The firm had revenue of $292.76 million for the quarter, compared to the consensus estimate of $285.89 million. During the same quarter in the previous year, the business earned $0.33 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities analysts predict that ServiceTitan will post -0.52 earnings per share for the current year.

Insider Buying and Selling

In other ServiceTitan news, President Vahe Kuzoyan sold 3,148 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $179,656.36. Following the sale, the president owned 2 shares in the company, valued at $114.14. This represents a 99.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 value of $1,326,649.22. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 267,676 shares of company stock worth $22,209,008 in the last quarter. Company insiders own 39.89% of the company’s stock.

Institutional Trading of ServiceTitan

Several hedge funds have recently added to or reduced their stakes in TTAN. Farther Finance Advisors LLC lifted its stake in ServiceTitan by 98.5% in the third quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock worth $35,000 after acquiring an additional 261 shares during the last quarter. Elevation Wealth Partners LLC increased its position in shares of ServiceTitan by 64.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,422 shares of the company’s stock valued at $94,000 after purchasing an additional 559 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of ServiceTitan by 598.9% in the 2nd quarter. Tidal Investments LLC now owns 27,963 shares of the company’s stock valued at $1,977,000 after purchasing an additional 23,962 shares in the last quarter. Whetstone Capital Advisors LLC acquired a new stake in shares of ServiceTitan in the 2nd quarter valued at $3,275,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of ServiceTitan in the 2nd quarter valued at $5,218,000.

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.