ServiceTitan Inc. (NASDAQ:TTAN) Receives $110.53 Consensus Price Target from Analysts

Shares of ServiceTitan Inc. (NASDAQ:TTAN) have earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $110.5333.

A number of brokerages have weighed in on TTAN. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th. Morgan Stanley upped their target price on ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a report on Tuesday, May 26th. TD Cowen boosted their price target on ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Finally, BMO Capital Markets increased their price target on ServiceTitan from $92.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, June 5th.

ServiceTitan Stock Performance

Shares of NASDAQ TTAN opened at $75.50 on Friday. The company’s 50 day moving average price is $68.97 and its 200-day moving average price is $72.41. ServiceTitan has a 52-week low of $54.17 and a 52-week high of $119.99. The company has a market capitalization of $7.20 billion, a P/E ratio of -52.07 and a beta of 0.13.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.09. The company had revenue of $268.82 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 earnings per share. Analysts forecast that ServiceTitan will post -0.54 earnings per share for the current year.

Insider Transactions at ServiceTitan

In other news, CAO Michele O’connor sold 4,910 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $80.93, for a total transaction of $397,366.30. Following the transaction, the chief accounting officer owned 71,676 shares in the company, valued at approximately $5,800,738.68. This represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ara Mahdessian sold 51,947 shares of the firm’s stock in a transaction dated 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 quarter, insiders sold 296,664 shares of company stock valued at $19,958,797. 39.89% of the stock is owned by insiders.

Institutional Trading of ServiceTitan

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Woodline Partners LP raised its holdings in ServiceTitan by 4.6% during the first 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 last quarter. Cetera Investment Advisers acquired a new position in ServiceTitan during the 2nd quarter valued at about $345,000. Russell Investments Group Ltd. bought a new stake in ServiceTitan during the 2nd quarter worth approximately $500,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after purchasing an additional 392 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of ServiceTitan in the second quarter worth approximately $393,000.

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.