ServiceTitan (NASDAQ:TTAN) Stock Keeps Buy Rating at TD Cowen

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reissued by equities research analysts at TD Cowen in a research note issued on Friday, Benzinga reports. They currently have a $100.00 target price on the stock. TD Cowen’s price target would indicate a potential upside of 66.68% from the stock’s current price.

A number of other equities analysts have also commented on the company. KeyCorp dropped their price objective on ServiceTitan from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Stifel Nicolaus lowered their target price on ServiceTitan from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, September 9th. Wells Fargo & Company dropped their price target on ServiceTitan from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. Weiss Ratings downgraded shares of ServiceTitan from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 9th. Finally, Citigroup cut their target price on shares of ServiceTitan from $83.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, September 9th. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.38.

ServiceTitan Trading Up 0.0%

ServiceTitan stock traded up $0.01 during trading hours on Friday, reaching $59.99. 242,730 shares of the company were exchanged, compared to its average volume of 1,733,255. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of -44.02 and a beta of 0.11. The stock has a 50-day moving average of $79.77 and a 200 day moving average of $71.51. ServiceTitan has a 12 month low of $53.00 and a 12 month high of $111.36.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.89 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. As a group, research analysts forecast that ServiceTitan will post -0.53 EPS for the current year.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, President Vahe Kuzoyan sold 3,148 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $179,656.36. Following the completion of the transaction, the president directly owned 2 shares in the company, valued at $114.14. This represents a 99.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ara Mahdessian sold 3,148 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $57.07, for a total transaction of $179,656.36. Following the completion of the sale, the chief executive officer owned 2 shares in the company, valued at $114.14. This represents a 99.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 324,533 shares of company stock valued at $26,813,042 in the last 90 days. Insiders own 39.89% of the company’s stock.

Hedge Funds Weigh In On ServiceTitan

Several institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC grew 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 buying an additional 23,962 shares during the last quarter. Whetstone Capital Advisors LLC acquired a new position in shares of ServiceTitan in the 2nd quarter worth approximately $3,275,000. WINTON GROUP Ltd acquired a new position in shares of ServiceTitan in the 2nd quarter worth approximately $5,218,000. Integrated Wealth Concepts LLC bought a new stake in ServiceTitan during the 2nd quarter worth approximately $115,000. Finally, NewEdge Advisors LLC grew its position in ServiceTitan by 7,677.2% during the 2nd quarter. NewEdge Advisors LLC now owns 8,866 shares of the company’s stock worth $627,000 after acquiring an additional 8,752 shares during the last quarter.

ServiceTitan Company Profile

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.