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

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating restated by equities research analysts at TD Cowen in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $100.00 price target on the stock. TD Cowen’s target price would suggest a potential upside of 41.82% from the stock’s previous close.

TTAN has been the topic of several other reports. Truist Financial reissued a “buy” rating and issued a $100.00 target price (down from $110.00) on shares of ServiceTitan in a research report on Wednesday, September 9th. Canaccord Genuity Group lowered their price objective on shares of ServiceTitan from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, September 9th. Piper Sandler lowered their price objective on shares of ServiceTitan from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. Stifel Nicolaus lowered their price objective on shares of ServiceTitan from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, September 9th. Finally, KeyCorp reduced their target price on shares of ServiceTitan from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.38.

ServiceTitan Stock Performance

Shares of TTAN stock traded up $1.84 on Wednesday, hitting $70.51. The stock had a trading volume of 329,162 shares, compared to its average volume of 1,742,567. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -51.48 and a beta of 0.33. The stock’s 50 day moving average is $78.40 and its 200-day moving average is $71.01. ServiceTitan has a 52-week low of $53.00 and a 52-week high of $111.36.

ServiceTitan (NASDAQ:TTAN) last posted 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. The business had revenue of $292.76 million during the quarter, compared to analyst estimates of $285.90 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS. Equities analysts expect that ServiceTitan will post -0.53 earnings per share for the current year.

Insider Activity at ServiceTitan

In related news, CAO Michele O’connor sold 4,380 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $61.35, for a total value of $268,713.00. Following the sale, the chief accounting officer directly owned 61,715 shares in the company, valued at $3,786,215.25. This trade represents a 6.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David Sherry sold 23,246 shares of the firm’s 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 owned 363,511 shares in the company, valued at $20,745,572.77. This trade represents a 6.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 267,676 shares of company stock worth $22,209,008 in the last quarter. Insiders own 39.89% of the company’s stock.

Hedge Funds Weigh In On ServiceTitan

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC raised its stake 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 in the last quarter. Whetstone Capital Advisors LLC acquired a new position in ServiceTitan during the second quarter worth about $3,275,000. WINTON GROUP Ltd acquired a new position in ServiceTitan during the second quarter worth about $5,218,000. Integrated Wealth Concepts LLC bought a new stake in shares of ServiceTitan during the second quarter worth about $115,000. Finally, NewEdge Advisors LLC grew its holdings in shares of ServiceTitan by 7,677.2% during the second quarter. NewEdge Advisors LLC now owns 8,866 shares of the company’s stock worth $627,000 after purchasing an additional 8,752 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.