ServiceTitan Inc. (NASDAQ:TTAN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

ServiceTitan Inc. (NASDAQ:TTAN) has been given an average rating of “Moderate Buy” by the twenty research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $135.3125.

Several equities research analysts recently issued reports on the stock. BTIG Research started coverage on shares of ServiceTitan in a research note on Tuesday, December 16th. They issued a “buy” rating and a $130.00 price objective for the company. Truist Financial set a $130.00 target price on ServiceTitan in a report on Tuesday, October 21st. Morgan Stanley upped their price target on ServiceTitan from $118.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, December 5th. BMO Capital Markets increased their price objective on ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, December 5th. Finally, KeyCorp reissued an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, December 16th.

ServiceTitan Trading Down 1.3%

NASDAQ:TTAN opened at $89.59 on Friday. The company has a market capitalization of $8.39 billion and a P/E ratio of -21.96. The stock’s 50 day moving average price is $98.87 and its 200 day moving average price is $103.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. ServiceTitan has a 52 week low of $79.81 and a 52 week high of $131.33.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The firm had revenue of $249.16 million during the quarter, compared to analysts’ expectations of $238.26 million. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s revenue was up 25.0% compared to the same quarter last year. On average, research analysts forecast that ServiceTitan will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ara Mahdessian sold 88,525 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total value of $9,521,749.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Vahe Kuzoyan sold 16,388 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $102.82, for a total transaction of $1,685,014.16. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 354,224 shares of company stock worth $35,316,418. Insiders own 51.72% of the company’s stock.

Hedge Funds Weigh In On ServiceTitan

Large investors have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new stake in ServiceTitan in the 2nd quarter worth $19,146,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of ServiceTitan during the third quarter valued at about $941,000. Bank of New York Mellon Corp lifted its stake in shares of ServiceTitan by 1,247.1% in the second quarter. Bank of New York Mellon Corp now owns 84,704 shares of the company’s stock valued at $9,079,000 after buying an additional 78,416 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of ServiceTitan in the third quarter valued at about $27,101,000. Finally, Voya Investment Management LLC acquired a new stake in ServiceTitan during the third quarter worth about $22,157,000.

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.