ServiceTitan (NASDAQ:TTAN) Price Target Raised to $101.00

ServiceTitan (NASDAQ:TTAN) had its price target hoisted by Robert W. Baird from $94.00 to $101.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 14.27% from the stock’s current price.

A number of other equities analysts have also recently issued reports on TTAN. BMO Capital Markets increased their price objective on shares of ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, June 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research note on Tuesday, July 21st. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, May 26th. Finally, TD Cowen boosted their price objective on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, June 5th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.00.

ServiceTitan Stock Up 1.7%

NASDAQ:TTAN opened at $88.39 on Wednesday. ServiceTitan has a twelve month low of $54.17 and a twelve month high of $119.99. The company has a fifty day moving average of $74.89 and a 200-day moving average of $69.85. The firm has a market capitalization of $8.43 billion, a P/E ratio of -60.96 and a beta of 0.02.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. The business had revenue of $268.82 million for 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%. ServiceTitan’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 earnings per share. On average, analysts anticipate that ServiceTitan will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at ServiceTitan

In related news, Director William J.G. Griffith sold 94,415 shares of ServiceTitan 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 transaction, the director owned 443,221 shares of the company’s stock, valued at $28,113,508.03. The trade was a 17.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David Sherry sold 20,192 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total value of $1,336,508.48. Following the sale, the chief financial officer owned 398,033 shares of the company’s stock, valued at $26,345,804.27. This trade represents a 4.83% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 384,717 shares of company stock worth $27,426,649. 39.89% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceTitan

Institutional investors have recently made changes to their positions in the company. Madison Asset Management LLC bought a new stake in shares of ServiceTitan in the 2nd quarter worth $56,118,000. First Bank & Trust boosted its holdings in ServiceTitan by 24.2% during the second quarter. First Bank & Trust now owns 4,426 shares of the company’s stock worth $313,000 after purchasing an additional 862 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in ServiceTitan by 20.0% during the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after purchasing an additional 144 shares during the last quarter. Janus Henderson Group PLC grew its position in ServiceTitan by 1.5% in the 1st quarter. Janus Henderson Group PLC now owns 783,560 shares of the company’s stock worth $49,724,000 after purchasing an additional 11,362 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in ServiceTitan by 75.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,586 shares of the company’s stock worth $101,000 after purchasing an additional 680 shares in the last quarter.

About ServiceTitan

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.