Analysts Set ServiceTitan Inc. (NASDAQ:TTAN) Price Target at $130.67

ServiceTitan Inc. (NASDAQ:TTAN) has earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $130.6667.

TTAN has been the subject of several analyst reports. Stifel Nicolaus upped their target price on ServiceTitan from $125.00 to $135.00 and gave the company a “buy” rating in a report on Friday, September 5th. Morgan Stanley raised their price target on ServiceTitan from $109.00 to $118.00 and gave the company an “equal weight” rating in a report on Friday, September 5th. Truist Financial lifted their target price on ServiceTitan from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Wells Fargo & Company boosted their price target on ServiceTitan from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Finally, Raymond James Financial started coverage on ServiceTitan in a research note on Friday, August 29th. They issued a “market perform” rating for the company.

ServiceTitan Stock Performance

ServiceTitan stock opened at $113.99 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.49 and a current ratio of 4.49. The firm has a market capitalization of $10.34 billion and a PE ratio of -21.11. ServiceTitan has a one year low of $79.81 and a one year high of $131.33. The stock’s 50 day moving average price is $110.09 and its 200 day moving average price is $108.09.

Insider Buying and Selling at ServiceTitan

In related news, Director William J.G. Griffith sold 90,917 shares of the business’s stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $109.99, for a total transaction of $9,999,960.83. Following the transaction, the director owned 483,635 shares in the company, valued at $53,195,013.65. The trade was a 15.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bessemer Venture Partners Viii sold 370,557 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $117.79, for a total transaction of $43,647,909.03. Following the completion of the sale, the insider owned 7,595,777 shares in the company, valued at approximately $894,706,572.83. This trade represents a 4.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,781,659 shares of company stock valued at $200,760,429 over the last 90 days. 51.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ServiceTitan

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in ServiceTitan in the 4th quarter valued at about $529,000. Comerica Bank raised its holdings in shares of ServiceTitan by 92,500.0% in the 1st quarter. Comerica Bank now owns 2,778 shares of the company’s stock valued at $264,000 after purchasing an additional 2,775 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of ServiceTitan in the 4th quarter valued at about $540,000. Nuveen Asset Management LLC bought a new stake in shares of ServiceTitan in the 4th quarter valued at about $7,793,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of ServiceTitan in the 4th quarter valued at about $1,543,000.

About ServiceTitan

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.