ServiceTitan Inc. (NASDAQ:TTAN) Receives $110.53 Average Target Price from Brokerages

ServiceTitan Inc. (NASDAQ:TTAN) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $110.5333.

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

ServiceTitan Stock Down 0.3%

NASDAQ TTAN opened at $80.09 on Friday. The company has a market cap of $7.64 billion, a price-to-earnings ratio of -55.23 and a beta of 0.13. The business has a 50 day moving average price of $68.46 and a 200-day moving average price of $72.85. ServiceTitan has a 52 week low of $54.17 and a 52 week high of $119.99.

ServiceTitan (NASDAQ:TTAN) last announced 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. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business had revenue of $268.82 million for the quarter, compared to analysts’ expectations of $257.40 million. During the same quarter last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities research analysts anticipate that ServiceTitan will post -0.54 earnings per share for the current year.

Insider Activity

In other ServiceTitan news, CEO Ara Mahdessian sold 51,947 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michele O’connor sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $69.14, for a total transaction of $691,400.00. Following the transaction, the chief accounting officer directly owned 81,890 shares of the company’s stock, valued at $5,661,874.60. This represents a 10.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 corporate insiders.

Institutional Investors Weigh In On ServiceTitan

A number of institutional investors have recently made changes to their positions in TTAN. First Bank & Trust boosted its holdings in shares of ServiceTitan by 24.2% during the 2nd quarter. First Bank & Trust now owns 4,426 shares of the company’s stock valued at $313,000 after acquiring an additional 862 shares during the last quarter. Elevation Wealth Partners LLC increased its stake in shares of ServiceTitan by 20.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after purchasing an additional 144 shares in the last quarter. Janus Henderson Group PLC increased its position in ServiceTitan by 1.5% in the first quarter. Janus Henderson Group PLC now owns 783,560 shares of the company’s stock worth $49,724,000 after buying an additional 11,362 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in ServiceTitan by 75.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,586 shares of the company’s stock worth $101,000 after acquiring an additional 680 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of ServiceTitan by 196.7% during the 1st quarter. California State Teachers Retirement System now owns 63,324 shares of the company’s stock valued at $4,019,000 after purchasing an additional 41,983 shares during the period.

ServiceTitan Company Profile

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.