BMO Capital Markets Boosts ServiceTitan (NASDAQ:TTAN) Price Target to $125.00

ServiceTitan (NASDAQ:TTAN) had its price target hoisted by BMO Capital Markets from $115.00 to $125.00 in a research note issued on Friday, Marketbeat.com reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 30.77% from the stock’s current price.

TTAN has been the topic of a number of other research reports. KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a report on Friday, November 21st. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of ServiceTitan in a report on Friday, September 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday. Morgan Stanley restated an “outperform” rating on shares of ServiceTitan in a research report on Friday. Finally, UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.40.

ServiceTitan Stock Up 2.4%

TTAN stock opened at $95.59 on Friday. The business has a 50 day moving average of $94.43 and a 200 day moving average of $104.86. The firm has a market cap of $8.89 billion and a PE ratio of -17.70. ServiceTitan has a twelve month low of $79.81 and a twelve month high of $131.33. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN) last issued its earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.09. The firm had revenue of $249.16 million for the quarter, compared to the consensus estimate of $238.26 million. ServiceTitan had a negative net margin of 26.08% and a negative return on equity of 16.87%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. On average, research analysts forecast that ServiceTitan will post -1.98 EPS for the current fiscal year.

Insider Transactions at ServiceTitan

In other ServiceTitan news, CEO Ara Mahdessian sold 46,542 shares of ServiceTitan stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $91.40, for a total value of $4,253,938.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Bessemer Venture Partners Viii sold 370,557 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $117.79, for a total transaction of $43,647,909.03. Following the transaction, the insider owned 7,595,777 shares of the company’s stock, valued at approximately $894,706,572.83. This trade represents a 4.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,121,690 shares of company stock valued at $126,740,332. 51.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceTitan

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cloud Capital Management LLC purchased a new position in ServiceTitan in the 3rd quarter worth $25,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of ServiceTitan by 1,005.1% in the second 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 during the period. Whittier Trust Co. purchased a new position in shares of ServiceTitan in the third quarter worth about $52,000. Parallel Advisors LLC raised its stake in shares of ServiceTitan by 161.7% in the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock worth $53,000 after purchasing an additional 325 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in ServiceTitan in the 2nd quarter worth approximately $79,000.

About ServiceTitan

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.