ServiceTitan (NASDAQ:TTAN) Price Target Raised to $101.00

ServiceTitan (NASDAQ:TTAN) had its target price raised by Robert W. Baird from $94.00 to $101.00 in a research note released on Wednesday, MarketBeat Ratings reports. Robert W. Baird currently has an outperform rating on the stock.

Several other research analysts also recently commented on the company. UBS Group reissued a “buy” rating on shares of ServiceTitan in a report on Wednesday, July 22nd. Morgan Stanley raised their price target on ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a research report on Wednesday, June 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of ServiceTitan in a research note on Tuesday, July 21st. Finally, TD Cowen increased their target price on ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Fifteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.00.

ServiceTitan Stock Down 3.5%

NASDAQ:TTAN opened at $90.40 on Wednesday. The firm has a market cap of $8.62 billion, a PE ratio of -62.34 and a beta of 0.02. ServiceTitan has a 12 month low of $54.17 and a 12 month high of $119.99. The company’s 50-day moving average price is $75.93 and its two-hundred day moving average price is $70.02.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping 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 firm had revenue of $268.82 million for the quarter, compared to analysts’ expectations of $257.40 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, research analysts expect that ServiceTitan will post -0.54 EPS for the current fiscal year.

Insider Activity at ServiceTitan

In other news, President Vahe Kuzoyan sold 114,732 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $88.84, for a total transaction of $10,192,790.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J.G. Griffith sold 94,415 shares of the stock in a transaction that occurred on 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 $28,113,508.03. This trade represents a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 515,837 shares of company stock valued at $39,077,152 in the last three months. 39.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TTAN. Farther Finance Advisors LLC increased its stake in shares of ServiceTitan by 189.1% in the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after buying an additional 174 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after acquiring an additional 392 shares during the period. State of Wyoming acquired a new position in shares of ServiceTitan during the first quarter valued at $48,000. Sunbelt Securities Inc. boosted its holdings in 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 acquiring an additional 391 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in 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 acquiring an additional 325 shares during the last quarter.

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.