Brokerages Set ServiceTitan Inc. (NASDAQ:TTAN) PT at $110.53

ServiceTitan Inc. (NASDAQ:TTAN) has received an average rating of “Moderate Buy” from the nineteen research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $110.5333.

TTAN has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research report on Tuesday, July 21st. Piper Sandler raised their price objective on ServiceTitan from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Morgan Stanley lifted their target price on ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. UBS Group reiterated a “buy” rating on shares of ServiceTitan in a report on Wednesday, July 22nd. Finally, BTIG Research reissued a “buy” rating and issued a $110.00 price target on shares of ServiceTitan in a research report on Friday, July 10th.

ServiceTitan Stock Performance

ServiceTitan stock opened at $86.89 on Tuesday. ServiceTitan has a 52 week low of $54.17 and a 52 week high of $119.99. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of -59.92 and a beta of 0.02. The company has a 50 day moving average price of $74.63 and a 200 day moving average price of $69.85.

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

Insider Activity

In other news, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the transaction, the insider directly owned 443,221 shares in the company, valued at $28,113,508.03. The trade was a 17.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ara Mahdessian sold 51,947 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 384,717 shares of company stock valued at $27,426,649 in the last three months. 39.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TTAN. Vanguard Group Inc. lifted its holdings in shares of ServiceTitan by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock valued at $518,549,000 after buying an additional 439,079 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of ServiceTitan by 33.8% in the 4th quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock valued at $214,494,000 after buying an additional 508,848 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in ServiceTitan by 47.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock worth $172,248,000 after buying an additional 519,024 shares during the last quarter. Greenoaks Capital Partners LLC increased its holdings in ServiceTitan by 20.6% in the fourth quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock worth $165,315,000 after buying an additional 264,926 shares during the last quarter. Finally, Capital International Investors raised its position in ServiceTitan by 23.9% during the fourth quarter. Capital International Investors now owns 1,224,699 shares of the company’s stock valued at $130,430,000 after acquiring an additional 236,287 shares in the last quarter.

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.