ServiceTitan (NASDAQ:TTAN) Receives Buy Rating from TD Cowen

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reissued by research analysts at TD Cowen in a report issued on Friday, Benzinga reports. They presently have a $100.00 price target on the stock. TD Cowen’s price target would indicate a potential upside of 72.27% from the company’s current price.

A number of other analysts also recently weighed in on TTAN. Stifel Nicolaus decreased their price target on ServiceTitan from $125.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, September 9th. Robert W. Baird decreased their price target on ServiceTitan from $101.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, September 9th. UBS Group set a $100.00 price target on ServiceTitan in a report on Wednesday, September 9th. Morgan Stanley decreased their price target on ServiceTitan from $124.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Finally, Weiss Ratings cut shares of ServiceTitan from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 9th. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.38.

ServiceTitan Stock Down 3.2%

ServiceTitan stock traded down $1.93 during trading hours on Friday, reaching $58.05. 1,768,652 shares of the company’s stock were exchanged, compared to its average volume of 1,742,029. The firm’s 50 day simple moving average is $79.77 and its 200 day simple moving average is $71.51. ServiceTitan has a twelve month low of $53.00 and a twelve month high of $111.36. The firm has a market capitalization of $5.60 billion, a PE ratio of -42.68 and a beta of 0.11.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $292.76 million during the quarter, compared to the consensus estimate of $285.90 million. During the same period last year, the business posted $0.33 EPS. The business’s revenue was up 20.9% compared to the same quarter last year. Analysts anticipate that ServiceTitan will post -0.53 EPS for the current year.

Insider Activity at ServiceTitan

In other news, CAO Michele O’connor sold 5,581 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $57.07, for a total transaction of $318,507.67. Following the transaction, the chief accounting officer owned 66,095 shares of the company’s stock, valued at $3,772,041.65. This represents a 7.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO David Sherry sold 23,246 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $1,326,649.22. Following the transaction, the chief financial officer directly owned 363,511 shares in the company, valued at $20,745,572.77. This trade represents a 6.01% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 324,533 shares of company stock worth $26,813,042 over the last quarter. Company insiders own 39.89% of the company’s stock.

Hedge Funds Weigh In On ServiceTitan

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming bought a new position in ServiceTitan in the 1st quarter valued at about $48,000. Elevation Wealth Partners LLC lifted its position in ServiceTitan by 20.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after acquiring an additional 144 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in ServiceTitan by 30.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock valued at $96,000 after acquiring an additional 209 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in ServiceTitan in the 2nd quarter valued at about $115,000. Finally, Parallel Advisors LLC lifted its position in ServiceTitan by 226.4% in the 1st quarter. Parallel Advisors LLC now owns 1,717 shares of the company’s stock valued at $109,000 after acquiring an additional 1,191 shares in 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.