ServiceTitan Inc. (NASDAQ:TTAN) Given Average Rating of “Moderate Buy” by Brokerages

ServiceTitan Inc. (NASDAQ:TTAN) has earned an average rating of “Moderate Buy” from the seventeen research firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $122.21.

Several equities research analysts have commented on the stock. TD Securities boosted their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, May 21st. TD Cowen assumed coverage on shares of ServiceTitan in a research report on Tuesday, April 8th. They set a “buy” rating and a $120.00 price target on the stock. KeyCorp boosted their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Robert W. Baird boosted their price objective on shares of ServiceTitan from $106.00 to $124.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of ServiceTitan in a research note on Friday, June 6th.

Insider Activity at ServiceTitan

In other ServiceTitan news, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $102.00, for a total transaction of $51,000,000.00. Following the transaction, the insider now owns 8,503,571 shares in the company, valued at $867,364,242. This represents a 5.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David Sherry sold 5,771 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $105.22, for a total transaction of $607,224.62. Following the transaction, the chief financial officer now directly owns 385,308 shares in the company, valued at $40,542,107.76. This represents a 1.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 645,046 shares of company stock worth $66,345,624. Insiders own 51.72% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

A number of large investors have recently added to or reduced their stakes in TTAN. Deer Management Co. LLC bought a new stake in shares of ServiceTitan during the 4th quarter worth approximately $925,943,000. TPG GP A LLC bought a new stake in shares of ServiceTitan during the 4th quarter worth approximately $525,405,000. Battery Management Corp. bought a new stake in shares of ServiceTitan during the 4th quarter worth approximately $496,599,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of ServiceTitan by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company’s stock worth $219,341,000 after acquiring an additional 32,066 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of ServiceTitan by 1,545.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company’s stock worth $195,521,000 after acquiring an additional 1,930,779 shares during the period.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN opened at $107.93 on Monday. The business’s 50-day simple moving average is $115.04. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07. ServiceTitan has a one year low of $79.81 and a one year high of $131.33.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $215.69 million for the quarter, compared to the consensus estimate of $208.61 million. ServiceTitan’s revenue was up 26.6% on a year-over-year basis. As a group, equities analysts predict that ServiceTitan will post -1.98 EPS for the current year.

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.