ServiceTitan (NASDAQ:TTAN) Price Target Raised to $160.00

ServiceTitan (NASDAQ:TTAN) had its price objective raised by TD Cowen from $150.00 to $160.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. BMO Capital Markets raised their target price on shares of ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday. KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a research report on Friday, November 21st. Cowen reiterated a “buy” rating on shares of ServiceTitan in a research note on Friday. Piper Sandler decreased their target price on ServiceTitan from $155.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Loop Capital raised ServiceTitan from a “hold” rating to a “buy” rating and raised their target price for the company from $100.00 to $140.00 in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $134.53.

ServiceTitan Stock Up 10.5%

Shares of TTAN stock opened at $105.60 on Friday. The stock’s 50 day simple moving average is $94.44 and its 200 day simple moving average is $104.41. ServiceTitan has a twelve month low of $79.81 and a twelve month high of $131.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.49 and a current ratio of 4.49. The company has a market capitalization of $9.82 billion and a price-to-earnings ratio of -25.88.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, December 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.15 by $0.09. ServiceTitan had a negative return on equity of 11.03% and a negative net margin of 23.91%.The company had revenue of $249.16 million for the quarter, compared to the consensus estimate of $238.26 million. During the same quarter last year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, research analysts predict that ServiceTitan will post -1.98 EPS for the current year.

Insider Activity at ServiceTitan

In other news, CEO Ara Mahdessian sold 46,542 shares of ServiceTitan stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $91.40, for a total transaction of $4,253,938.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bessemer Venture Partners Viii sold 340,633 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $118.89, for a total value of $40,497,857.37. Following the sale, the insider owned 7,255,144 shares in the company, valued at approximately $862,564,070.16. This represents a 4.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 751,133 shares of company stock worth $83,092,423 over the last three months. Company insiders own 51.72% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

A number of institutional investors have recently bought and sold shares of the business. Cloud Capital Management LLC acquired a new position in shares of ServiceTitan in the 3rd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after acquiring an additional 392 shares in the last quarter. Whittier Trust Co. bought a new stake in ServiceTitan in the third quarter valued at about $52,000. Parallel Advisors LLC increased its stake in ServiceTitan by 161.7% in the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock valued at $53,000 after acquiring an additional 325 shares during the period. Finally, PNC Financial Services Group Inc. acquired a new position in ServiceTitan in the second quarter worth about $79,000.

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.