ServiceTitan (NASDAQ:TTAN) Stock Rating Reaffirmed as Buy by TD Cowen

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reiterated by stock analysts at TD Cowen in a note issued to investors on Wednesday, Benzinga reports. They currently have a $100.00 price target on the stock. TD Cowen’s price objective would suggest a potential upside of 43.27% from the stock’s previous close.

Other analysts have also issued reports about the company. BTIG Research reiterated a “buy” rating and set a $110.00 price target on shares of ServiceTitan in a report on Friday, October 2nd. Citigroup decreased their target price on ServiceTitan from $83.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, September 9th. BMO Capital Markets lowered their target price on ServiceTitan from $103.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. KeyCorp cut their price target on shares of ServiceTitan from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. Finally, Canaccord Genuity Group reduced their price target on shares of ServiceTitan from $105.00 to $90.00 and set a “buy” rating for the company in a research report 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 assigned a Sell rating to the stock. Based on data from MarketBeat, ServiceTitan currently has an average rating of “Moderate Buy” and a consensus price target of $96.38.

ServiceTitan Stock Performance

NASDAQ:TTAN traded up $1.13 on Wednesday, hitting $69.80. The stock had a trading volume of 301,917 shares, compared to its average volume of 1,742,456. ServiceTitan has a 1 year low of $53.00 and a 1 year high of $111.36. The firm’s fifty day simple moving average is $78.40 and its two-hundred day simple moving average is $71.01. The stock has a market cap of $6.73 billion, a P/E ratio of -51.35 and a beta of 0.33.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $292.76 million for the quarter, compared to the consensus estimate of $285.90 million. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%.The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. Equities research analysts predict that ServiceTitan will post -0.53 EPS for the current year.

Insider Transactions at ServiceTitan

In other news, CAO Michele O’connor sold 5,581 shares of the company’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 $318,507.67. Following the transaction, the chief accounting officer owned 66,095 shares of the company’s stock, valued at $3,772,041.65. This represents a 7.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO David Sherry sold 23,246 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $57.07, for a total value of $1,326,649.22. Following the transaction, the chief financial officer owned 363,511 shares of the company’s stock, valued at $20,745,572.77. The trade was a 6.01% 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 sold a total of 267,676 shares of company stock valued at $22,209,008 in the last three months. 39.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServiceTitan

Several institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its position in ServiceTitan by 33.8% during the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock worth $214,494,000 after purchasing an additional 508,848 shares during the period. Artisan Partners Limited Partnership raised its position in shares of ServiceTitan by 47.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock valued at $172,248,000 after purchasing an additional 519,024 shares during the period. Bamco Inc. NY raised its position in shares of ServiceTitan by 14.0% in the fourth quarter. Bamco Inc. NY now owns 1,096,931 shares of the company’s stock valued at $116,823,000 after purchasing an additional 134,313 shares during the period. Madison Asset Management LLC lifted its stake in shares of ServiceTitan by 41.1% during the 1st quarter. Madison Asset Management LLC now owns 900,112 shares of the company’s stock valued at $57,121,000 after buying an additional 262,037 shares in the last quarter. Finally, Atreides Management LP lifted its stake in shares of ServiceTitan by 26.5% during the 4th quarter. Atreides Management LP now owns 792,433 shares of the company’s stock valued at $84,394,000 after buying an additional 166,206 shares in the last quarter.

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.