ServiceTitan’s (TTAN) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of ServiceTitan (NASDAQ:TTAN) in a research note published on Wednesday morning,Benzinga reports. They currently have a $110.00 price objective on the stock.

A number of other research analysts have also issued reports on TTAN. Weiss Ratings raised shares of ServiceTitan from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th. Evercore set a $90.00 price target on shares of ServiceTitan in a research note on Wednesday. Morgan Stanley boosted their price objective on ServiceTitan from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Robert W. Baird increased their price objective on ServiceTitan from $94.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, UBS Group reissued a “buy” rating on shares of ServiceTitan in a report on Wednesday, July 22nd. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.38.

ServiceTitan Price Performance

Shares of NASDAQ TTAN opened at $54.68 on Wednesday. The firm has a market capitalization of $5.22 billion, a PE ratio of -40.21 and a beta of 0.11. ServiceTitan has a 1-year low of $53.80 and a 1-year high of $119.60. The business’s fifty day moving average price is $83.41 and its two-hundred day moving average price is $72.42.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $292.76 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. Equities research analysts expect that ServiceTitan will post -0.54 earnings per share for the current fiscal year.

Insider Transactions at ServiceTitan

In other ServiceTitan news, Director William Griffith sold 94,415 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the sale, the director directly owned 443,221 shares in the company, valued at approximately $28,113,508.03. The trade was a 17.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the sale, the insider owned 443,221 shares in the company, valued at $28,113,508.03. This trade represents a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 514,837 shares of company stock worth $39,203,222 over the last ninety days. Insiders own 39.89% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTAN. Northwestern Mutual Wealth Management Co. boosted its stake in ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 392 shares in the last quarter. State of Wyoming bought a new stake in shares of ServiceTitan in the 1st quarter worth $48,000. Sunbelt Securities Inc. lifted its holdings in shares of ServiceTitan by 391.0% in the fourth quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock valued at $52,000 after buying an additional 391 shares during the period. Parallel Advisors LLC lifted its holdings in shares of ServiceTitan by 161.7% in the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock valued at $53,000 after buying an additional 325 shares during the period. Finally, Elevation Wealth Partners LLC lifted its holdings in shares of ServiceTitan by 20.0% in the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock valued at $61,000 after buying an additional 144 shares during the period.

More ServiceTitan News

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan reported fiscal Q2 revenue of approximately $292.8 million, up 21% year over year, exceeding analyst expectations. Non-GAAP free cash flow reached a record $50.5 million, while the non-GAAP operating margin improved to 15.2%. ServiceTitan Bets on Max Despite Near-Term Headwinds
• Positive Sentiment: BTIG Research reaffirmed its “Buy” rating, indicating that at least one analyst believes the recent selloff has created an attractive long-term entry point. BTIG Reaffirms Buy Rating
• Neutral Sentiment: Analyst coverage remains mixed. Citigroup, Stifel Nicolaus, TD Cowen and Piper Sandler all reduced their price targets to $76, $100, $100 and $110, respectively, while still maintaining targets well above the recent trading level. Citigroup Lowers Price Target
• Negative Sentiment: The primary catalyst for the selloff was disclosure of unexpected revenue-recognition timing differences and slower year-over-year growth in fiscal Q2. Investors appear concerned that reported results may not fully reflect the underlying pace of demand, even though revenue and adjusted profitability exceeded estimates. ServiceTitan Scrutinized Over Revenue Timing
• Negative Sentiment: Robert W. Baird, KeyCorp and BMO Capital Markets issued more pessimistic forecasts, adding to concerns about valuation, near-term execution and the company’s continued net losses. Baird Issues Pessimistic Forecast
• Negative Sentiment: Commentary following the earnings call concluded that the quarter was not disastrous but was insufficient to support an analyst upgrade, reinforcing the market’s cautious view of ServiceTitan’s near-term outlook. ServiceTitan Q2 Analysis

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.