ServiceTitan Inc. (NASDAQ:TTAN) Stock Has Average Target Price of $96.38 According to Analysts

Shares of ServiceTitan Inc. (NASDAQ:TTAN) have earned an average rating of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $96.38.

TTAN has been the subject of several analyst reports. Piper Sandler decreased their price objective on shares of ServiceTitan from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. KeyCorp cut their target price on ServiceTitan from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Truist Financial reissued a “buy” rating and set a $100.00 price target (down from $110.00) on shares of ServiceTitan in a research note on Wednesday, September 9th. Robert W. Baird cut their price objective on ServiceTitan from $101.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 9th. Finally, Evercore set a $90.00 target price on ServiceTitan in a research note on Wednesday, September 9th.

Insider Activity at ServiceTitan

In related news, CEO Ara Mahdessian sold 51,947 shares of ServiceTitan stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total transaction of $4,206,668.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Sherry sold 23,246 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $57.07, for a total transaction of $1,326,649.22. Following the completion of the sale, the chief financial officer directly owned 363,511 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 324,533 shares of company stock valued at $26,813,042. Company insiders own 39.89% of the company’s stock.

Hedge Funds Weigh In On ServiceTitan

A number of institutional investors have recently modified their holdings of TTAN. Franklin Resources Inc. boosted its holdings in shares of ServiceTitan by 33.8% in the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock valued at $214,494,000 after purchasing an additional 508,848 shares during the period. Artisan Partners Limited Partnership increased its holdings 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 purchasing an additional 519,024 shares during the period. Capital International Investors increased its holdings in ServiceTitan by 23.9% during the 4th quarter. Capital International Investors now owns 1,224,699 shares of the company’s stock worth $130,430,000 after purchasing an additional 236,287 shares during the period. Bamco Inc. NY raised its position in ServiceTitan by 14.0% during the 4th 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 in the last quarter. Finally, Norges Bank bought a new stake in ServiceTitan during the 4th quarter valued at $112,678,000.

ServiceTitan Trading Down 3.2%

Shares of TTAN opened at $58.05 on Wednesday. The company’s fifty day simple moving average is $79.42 and its 200-day simple moving average is $71.41. The company has a market cap of $5.60 billion, a P/E ratio of -42.68 and a beta of 0.11. ServiceTitan has a twelve month low of $53.00 and a twelve month high of $111.36.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $292.76 million during the quarter, compared to analysts’ expectations of $285.89 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 EPS. Analysts predict that ServiceTitan will post -0.53 earnings per share for the current fiscal year.

About ServiceTitan

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company’s products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.