BTIG Research Reiterates “Buy” Rating for ServiceTitan (NASDAQ:TTAN)

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $110.00 target price on the stock. BTIG Research’s price target would suggest a potential upside of 38.47% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group dropped their price objective on shares of ServiceTitan from $117.00 to $84.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Robert W. Baird boosted their price target on ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a report on Tuesday, May 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $110.00 price target (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.53.

ServiceTitan Price Performance

TTAN stock opened at $79.44 on Friday. The company has a market capitalization of $7.58 billion, a PE ratio of -54.79 and a beta of 0.13. The firm’s 50-day moving average is $67.36 and its 200 day moving average is $73.48. ServiceTitan has a 12 month low of $54.17 and a 12 month high of $119.99.

ServiceTitan (NASDAQ:TTAN) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. The firm had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The company’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Sell-side analysts forecast that ServiceTitan will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at ServiceTitan

In related news, Director William J.G. Griffith sold 94,415 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the transaction, the director directly owned 443,221 shares of the company’s stock, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Byron B. Deeter sold 8,845 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.35, for a total transaction of $560,330.75. Following the transaction, the director owned 13,782 shares in the company, valued at $873,089.70. The trade was a 39.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 296,664 shares of company stock valued at $19,958,797. Corporate insiders own 39.89% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in ServiceTitan by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after acquiring an additional 439,079 shares during the last quarter. Renaissance Capital LLC increased its stake in ServiceTitan by 222.8% during the fourth quarter. Renaissance Capital LLC now owns 41,223 shares of the company’s stock worth $4,390,000 after purchasing an additional 28,454 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in ServiceTitan during the 3rd quarter worth approximately $84,983,000. Zevenbergen Capital Investments LLC acquired a new stake in shares of ServiceTitan in the fourth quarter valued at $4,281,000. Finally, Robeco Schweiz AG raised its position in ServiceTitan by 35.3% in the 4th quarter. Robeco Schweiz AG now owns 83,200 shares of the company’s stock valued at $8,861,000 after purchasing an additional 21,700 shares in the last quarter.

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.