ServiceTitan (NASDAQ:TTAN) Stock Keeps “Buy” Rating at TD Cowen

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reissued by stock analysts at TD Cowen in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $100.00 target price on the stock. TD Cowen’s price objective would indicate a potential upside of 43.48% from the company’s previous close.

A number of other brokerages have also issued reports on TTAN. KeyCorp reduced their target price on ServiceTitan from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. BTIG Research reiterated a “buy” rating and issued a $110.00 target price on shares of ServiceTitan in a research report on Friday, October 2nd. Piper Sandler cut their price objective on shares of ServiceTitan from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. BMO Capital Markets decreased their target price on shares of ServiceTitan from $103.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, September 9th. Finally, Canaccord Genuity Group reduced their price objective on ServiceTitan from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, September 9th. Fourteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceTitan presently has an average rating of “Moderate Buy” and an average target price of $96.38.

ServiceTitan Stock Performance

TTAN stock traded up $1.03 during trading on Wednesday, reaching $69.70. 151,666 shares of the company traded hands, compared to its average volume of 1,741,462. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of -51.21 and a beta of 0.33. The business has a 50 day simple moving average of $78.40 and a 200 day simple moving average of $71.01. ServiceTitan has a 12 month low of $53.00 and a 12 month high of $111.36.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The business had revenue of $292.76 million during the quarter, compared to analyst estimates of $285.90 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, research analysts forecast that ServiceTitan will post -0.53 EPS for the current year.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 23,246 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $1,326,649.22. Following the transaction, the chief financial officer owned 363,511 shares of the company’s stock, valued at approximately $20,745,572.77. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Vahe Kuzoyan sold 3,148 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $57.07, for a total transaction of $179,656.36. Following the transaction, the president directly owned 2 shares in the company, valued at approximately $114.14. The trade was a 99.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 267,676 shares of company stock valued at $22,209,008 over the last ninety days. 39.89% of the stock is currently owned by corporate insiders.

Institutional Trading of ServiceTitan

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd acquired a new stake in shares of ServiceTitan during the second quarter valued at about $5,218,000. Stockbridge Partners LLC purchased a new position in shares of ServiceTitan during the 2nd quarter worth approximately $13,333,000. Whetstone Capital Advisors LLC acquired a new stake in ServiceTitan in the 2nd quarter valued at approximately $3,275,000. Shah Wealth Advisors LLC purchased a new stake in ServiceTitan in the second quarter valued at approximately $1,186,000. Finally, Tidal Investments LLC raised its position in ServiceTitan by 598.9% in the second quarter. Tidal Investments LLC now owns 27,963 shares of the company’s stock valued at $1,977,000 after purchasing an additional 23,962 shares during the period.

About ServiceTitan

ServiceTitan, Inc is a cloud-based software company that provides business management solutions for residential and commercial contractors. Its platform is designed for companies in the trades, including heating, ventilation and air conditioning (HVAC), plumbing, electrical, roofing, landscaping and related services.

ServiceTitan’s products support a range of operational and customer-facing functions, including scheduling and dispatching, customer relationship management, estimates, invoicing, payments, marketing, reporting and field-service management.