ServiceTitan’s (TTAN) Buy Rating Reaffirmed at Needham & Company LLC

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $100.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 50.22% from the stock’s current price.

Several other equities analysts have also recently issued reports on TTAN. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research note on Friday, April 24th. TD Cowen lifted their price target on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, June 5th. BMO Capital Markets lifted their price target on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday, June 5th. Canaccord Genuity Group dropped their price target on ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Finally, Robert W. Baird lifted their price target on ServiceTitan from $75.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.53.

ServiceTitan Stock Performance

TTAN opened at $66.57 on Wednesday. ServiceTitan has a 52-week low of $54.17 and a 52-week high of $119.99. The stock has a market capitalization of $6.35 billion, a PE ratio of -45.91 and a beta of 0.13. The stock’s 50 day moving average price is $64.23 and its 200-day moving average price is $77.10.

ServiceTitan (NASDAQ:TTAN) last posted 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. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The firm had revenue of $268.82 million for the quarter, compared to analysts’ expectations of $257.40 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. Research analysts forecast that ServiceTitan will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at ServiceTitan

In related news, CAO Michele O’connor sold 10,000 shares of ServiceTitan stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $69.14, for a total transaction of $691,400.00. Following the sale, the chief accounting officer directly owned 81,890 shares in the company, valued at $5,661,874.60. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 39.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ServiceTitan

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of ServiceTitan by 538.4% in the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after acquiring an additional 3,735,968 shares during the last quarter. Thornburg Investment Management Inc. purchased a new stake in shares of ServiceTitan in the third quarter worth $8,338,000. Sandhill Capital Partners LLC purchased a new stake in shares of ServiceTitan in the third quarter worth $27,062,000. Renaissance Capital LLC grew its stake in shares of ServiceTitan by 222.8% in the fourth quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock worth $4,390,000 after acquiring an additional 28,454 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of ServiceTitan in the third quarter worth $84,983,000.

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.