Brokerages Set ServiceTitan Inc. (NASDAQ:TTAN) Price Target at $110.53

ServiceTitan Inc. (NASDAQ:TTAN) has been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $110.5333.

TTAN has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of ServiceTitan in a research note on Wednesday. The Goldman Sachs Group lowered their price objective on ServiceTitan from $117.00 to $84.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. William Blair reiterated an “outperform” rating on shares of ServiceTitan in a research report on Friday, March 13th. Robert W. Baird increased their price objective on ServiceTitan from $75.00 to $94.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th.

Insider Transactions at ServiceTitan

In related news, President Vahe Kuzoyan sold 3,208 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total transaction of $212,337.52. Following the sale, the president owned 1 shares of the company’s stock, valued at $66.19. This represents a 99.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 10,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $69.14, for a total value of $691,400.00. Following the transaction, the chief accounting officer owned 81,890 shares in the company, valued at approximately $5,661,874.60. This trade represents a 10.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 46,732 shares of company stock worth $3,086,391 over the last quarter. 39.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ServiceTitan

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in ServiceTitan by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after acquiring an additional 439,079 shares during the period. JPMorgan Chase & Co. increased its stake in ServiceTitan by 118.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after acquiring an additional 1,569,136 shares during the period. Franklin Resources Inc. increased its stake in ServiceTitan by 33.8% during the 4th quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock worth $214,494,000 after acquiring an additional 508,848 shares during the period. Artisan Partners Limited Partnership increased its stake in ServiceTitan by 47.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock worth $172,248,000 after acquiring an additional 519,024 shares during the period. Finally, Greenoaks Capital Partners LLC increased its stake in ServiceTitan by 20.6% during the 4th quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock worth $165,315,000 after acquiring an additional 264,926 shares during the period.

ServiceTitan Price Performance

Shares of NASDAQ TTAN opened at $64.23 on Monday. The business’s 50 day moving average price is $64.29 and its two-hundred day moving average price is $76.65. The company has a market cap of $6.13 billion, a PE ratio of -44.30 and a beta of 0.13. ServiceTitan has a twelve month low of $54.17 and a twelve month high of $119.99.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The firm had revenue of $268.82 million for the quarter, compared to the consensus estimate of $257.40 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. As a group, research analysts anticipate that ServiceTitan will post -0.54 EPS for the current fiscal year.

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.