ServiceTitan’s (TTAN) Buy Rating Reaffirmed at TD Cowen

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating reiterated by TD Cowen in a report released on Friday, Benzinga reports. They currently have a $100.00 price target on the stock. TD Cowen’s price objective points to a potential upside of 48.50% from the stock’s previous close.

Several other equities research analysts have also weighed in on TTAN. Citigroup lowered their price objective on ServiceTitan from $83.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 9th. KeyCorp lowered their price objective on ServiceTitan from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Robert W. Baird lowered their price objective on ServiceTitan from $101.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. Canaccord Genuity Group lowered their price objective on ServiceTitan from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, September 9th. Finally, Wells Fargo & Company lowered 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. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ServiceTitan currently has an average rating of “Moderate Buy” and an average price target of $96.38.

ServiceTitan Trading Up 2.4%

TTAN traded up $1.55 on Friday, hitting $67.34. 1,643,769 shares of the stock traded hands, compared to its average volume of 1,751,832. ServiceTitan has a 52 week low of $53.00 and a 52 week high of $111.36. The firm has a market capitalization of $6.50 billion, a PE ratio of -49.51 and a beta of 0.11. The business has a fifty day moving average price of $78.75 and a two-hundred day moving average price of $71.05.

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

Insiders Place Their Bets

In related news, CFO David Sherry sold 23,246 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 363,511 shares in the company, valued at $20,745,572.77. This represents a 6.01% decrease in their position. The transaction was disclosed in a legal 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, CAO Michele O’connor sold 4,380 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $61.35, for a total value of $268,713.00. Following the sale, the chief accounting officer owned 61,715 shares in the company, valued at approximately $3,786,215.25. This trade represents a 6.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,533 shares of company stock valued at $26,813,042 in the last 90 days. Insiders own 39.89% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

Large investors have recently bought and sold shares of the business. State of Wyoming bought a new stake in ServiceTitan during the 1st quarter worth approximately $48,000. Elevation Wealth Partners LLC grew its position in ServiceTitan by 20.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after acquiring an additional 144 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in ServiceTitan by 30.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company’s stock worth $96,000 after acquiring an additional 209 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in ServiceTitan during the 2nd quarter worth approximately $115,000. Finally, Parallel Advisors LLC grew its position in ServiceTitan by 226.4% during the 1st 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.

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.