TD Cowen Reaffirms “Buy” Rating for ServiceTitan (NASDAQ:TTAN)

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reaffirmed by analysts at TD Cowen in a report released on Friday, Benzinga reports. They currently have a $100.00 price target on the stock. TD Cowen’s target price would suggest a potential upside of 72.41% from the stock’s current price.

Other research analysts also recently issued research reports about the company. BTIG Research restated a “buy” rating and set a $110.00 price target on shares of ServiceTitan in a research note on Wednesday, September 9th. BMO Capital Markets lowered their target price on shares of ServiceTitan from $103.00 to $90.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 9th. Weiss Ratings cut shares of ServiceTitan from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 9th. KeyCorp decreased their price target on shares of ServiceTitan from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Finally, Stifel Nicolaus lowered their price objective on shares of ServiceTitan from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, September 9th. Fourteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.38.

ServiceTitan Trading Down 3.3%

NASDAQ:TTAN traded down $1.98 during midday trading on Friday, hitting $58.00. 654,440 shares of the company were exchanged, compared to its average volume of 1,735,716. ServiceTitan has a fifty-two week low of $53.00 and a fifty-two week high of $111.36. The company has a market capitalization of $5.60 billion, a PE ratio of -42.70 and a beta of 0.11. The company has a fifty day simple moving average of $79.77 and a 200 day simple moving average of $71.51.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%.The company had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.90 million. During the same quarter last year, the company posted $0.33 earnings per share. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, equities research analysts expect that ServiceTitan will post -0.53 EPS for the current year.

Insider Activity

In other ServiceTitan news, CEO Ara Mahdessian sold 51,947 shares of ServiceTitan stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total transaction of $4,206,668.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Sherry sold 23,246 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $57.07, for a total value of $1,326,649.22. Following the completion of the sale, the chief financial officer directly owned 363,511 shares of the company’s stock, valued at $20,745,572.77. The trade was a 6.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 324,533 shares of company stock worth $26,813,042. Corporate insiders own 39.89% of the company’s stock.

Hedge Funds Weigh In On ServiceTitan

Large investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its stake in ServiceTitan by 598.9% during the second quarter. Tidal Investments LLC now owns 27,963 shares of the company’s stock worth $1,977,000 after purchasing an additional 23,962 shares during the last quarter. Whetstone Capital Advisors LLC bought a new stake in ServiceTitan during the second quarter valued at $3,275,000. WINTON GROUP Ltd bought a new stake in ServiceTitan during the second quarter valued at $5,218,000. Integrated Wealth Concepts LLC acquired a new stake in shares of ServiceTitan during the second quarter worth $115,000. Finally, NewEdge Advisors LLC lifted its position in shares of ServiceTitan by 7,677.2% in the 2nd quarter. NewEdge Advisors LLC now owns 8,866 shares of the company’s stock worth $627,000 after buying an additional 8,752 shares during the last quarter.

About ServiceTitan

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company’s products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.