ServiceTitan (NASDAQ:TTAN) Given Buy Rating at TD Cowen

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reiterated by research analysts at TD Cowen in a research note issued to investors on Friday, Benzinga reports. They presently have a $100.00 price target on the stock. TD Cowen’s price target would suggest a potential upside of 66.68% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley cut their target price on shares of ServiceTitan from $124.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. Wells Fargo & Company dropped their price objective on ServiceTitan from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Robert W. Baird lowered their price target on ServiceTitan from $101.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, September 9th. Canaccord Genuity Group cut their price objective on ServiceTitan from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, September 9th. Finally, Evercore set a $90.00 target price on ServiceTitan in a research note on Wednesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.38.

ServiceTitan Stock Up 0.0%

NASDAQ TTAN traded up $0.01 during trading hours on Friday, hitting $59.99. The company’s stock had a trading volume of 242,730 shares, compared to its average volume of 1,733,255. ServiceTitan has a twelve month low of $53.00 and a twelve month high of $111.36. The firm has a market capitalization of $5.79 billion, a P/E ratio of -44.02 and a beta of 0.11. The stock has a fifty day moving average of $79.77 and a 200 day moving average of $71.51.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $292.76 million during the quarter, compared to the consensus estimate of $285.89 million. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%.The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 earnings per share. On average, analysts predict that ServiceTitan will post -0.53 earnings per share for the current year.

Insider Activity

In other ServiceTitan news, CFO David Sherry sold 23,246 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $57.07, for a total value of $1,326,649.22. Following the completion of the sale, the chief financial officer owned 363,511 shares in the company, valued at $20,745,572.77. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ara Mahdessian sold 3,148 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $179,656.36. Following the transaction, the chief executive officer owned 2 shares in the company, valued at $114.14. This represents a 99.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 324,533 shares of company stock valued at $26,813,042. 39.89% of the stock is owned by insiders.

Hedge Funds Weigh In On ServiceTitan

Several large investors have recently modified their holdings of TTAN. State of Wyoming acquired a new stake in shares of ServiceTitan during the 1st quarter worth about $48,000. Elevation Wealth Partners LLC grew its stake in ServiceTitan by 20.0% in the 2nd 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 last quarter. EverSource Wealth Advisors LLC raised its holdings in ServiceTitan by 30.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock valued at $96,000 after acquiring an additional 209 shares during the period. Integrated Wealth Concepts LLC bought a new position in ServiceTitan in the 2nd quarter valued at about $115,000. Finally, Parallel Advisors LLC lifted its position in ServiceTitan by 226.4% during the first quarter. Parallel Advisors LLC now owns 1,717 shares of the company’s stock worth $109,000 after acquiring an additional 1,191 shares during the last quarter.

ServiceTitan Company Profile

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.