TD Cowen Has Lowered Expectations for ServiceTitan (NASDAQ:TTAN) Stock Price

ServiceTitan (NASDAQ:TTAN) had its target price reduced by investment analysts at TD Cowen from $125.00 to $100.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target suggests a potential upside of 76.28% from the company’s current price.

A number of other research analysts have also weighed in on TTAN. BMO Capital Markets cut their target price on shares of ServiceTitan from $103.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday. Truist Financial set a $100.00 target price on ServiceTitan in a report on Wednesday. Canaccord Genuity Group set a $90.00 target price on shares of ServiceTitan in a research note on Wednesday. UBS Group set a $100.00 target price on ServiceTitan in a research report on Wednesday. Finally, Stifel Nicolaus set a $125.00 price objective on ServiceTitan in a report on Wednesday, May 27th. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ServiceTitan presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.69.

ServiceTitan Price Performance

NASDAQ:TTAN traded down $24.85 during trading hours on Wednesday, reaching $56.73. The company’s stock had a trading volume of 8,236,073 shares, compared to its average volume of 1,454,241. ServiceTitan has a one year low of $54.17 and a one year high of $119.60. The business’s 50-day moving average is $84.66 and its 200-day moving average is $72.69. The company has a market cap of $5.41 billion, a price-to-earnings ratio of -38.65 and a beta of 0.11.

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

Insider Activity

In other ServiceTitan news, Director William Griffith sold 94,415 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45. Following the transaction, the director directly owned 443,221 shares in the company, valued at approximately $28,113,508.03. This trade represents a 17.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ara Mahdessian sold 51,947 shares of ServiceTitan stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total value 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. In the last 90 days, insiders have sold 514,837 shares of company stock worth $39,203,222. 39.89% of the stock is owned by company insiders.

Institutional Trading of ServiceTitan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTAN. Woodline Partners LP grew its position in shares of ServiceTitan by 4.6% during the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after buying an additional 95 shares during the period. Cetera Investment Advisers bought a new position in ServiceTitan in the second quarter valued at approximately $345,000. Russell Investments Group Ltd. acquired a new stake in ServiceTitan during the 2nd quarter worth $500,000. Northwestern Mutual Wealth Management Co. grew its holdings in ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after acquiring an additional 392 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of ServiceTitan during the 2nd quarter valued at $393,000.

Key Headlines Impacting ServiceTitan

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.