ServiceTitan (NASDAQ:TTAN) Sees Large Volume Increase Following Analyst Upgrade

ServiceTitan Inc. (NASDAQ:TTAN) shares saw unusually-strong trading volume on Monday after Loop Capital raised their price target on the stock from $90.00 to $100.00. Loop Capital currently has a hold rating on the stock. Approximately 817,724 shares traded hands during trading, an increase of 77% from the previous session’s volume of 461,348 shares.The stock last traded at $102.69 and had previously closed at $106.60.

TTAN has been the topic of several other research reports. Morgan Stanley boosted their price target on ServiceTitan from $107.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, June 6th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of ServiceTitan in a research report on Friday, June 6th. KeyCorp boosted their price target on ServiceTitan from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Piper Sandler restated an “overweight” rating and issued a $125.00 price target on shares of ServiceTitan in a research report on Friday, March 14th. Finally, TD Cowen started coverage on ServiceTitan in a research report on Tuesday, April 8th. They issued a “buy” rating and a $120.00 price target on the stock. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.21.

Insider Transactions at ServiceTitan

In other news, CFO David Sherry sold 10,175 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $963,063.75. Following the sale, the chief financial officer now owns 325,409 shares of the company’s stock, valued at $30,799,961.85. The trade was a 3.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michele O’connor sold 5,494 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $520,007.10. Following the completion of the transaction, the chief accounting officer now owns 89,302 shares of the company’s stock, valued at $8,452,434.30. This trade represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 51.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. acquired a new position in ServiceTitan in the 4th quarter valued at $57,349,000. Jane Street Group LLC purchased a new stake in shares of ServiceTitan during the 4th quarter valued at $529,000. Nuveen Asset Management LLC purchased a new stake in shares of ServiceTitan during the 4th quarter valued at $7,793,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of ServiceTitan during the 4th quarter valued at $1,543,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of ServiceTitan during the 4th quarter valued at $87,896,000.

ServiceTitan Stock Performance

The company’s 50 day simple moving average is $114.26.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.06. The company had revenue of $215.69 million for the quarter, compared to analysts’ expectations of $208.61 million. ServiceTitan’s revenue was up 26.6% on a year-over-year basis. On average, analysts anticipate that ServiceTitan Inc. will post -1.98 EPS for the current year.

ServiceTitan Company Profile

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.