ServiceTitan Inc. (NASDAQ:TTAN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

ServiceTitan Inc. (NASDAQ:TTAN) has been assigned an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $110.5333.

Several brokerages recently commented on TTAN. Truist Financial restated a “buy” rating and issued a $110.00 price target (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. TD Cowen lifted their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Morgan Stanley increased their target price on ServiceTitan from $118.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. Finally, Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a report on Monday, June 8th.

ServiceTitan Stock Performance

ServiceTitan stock opened at $66.77 on Monday. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of -46.05 and a beta of 0.12. The company’s 50-day moving average price is $64.04 and its two-hundred day moving average price is $77.40. ServiceTitan has a 52 week low of $54.17 and a 52 week high of $119.99.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. Research analysts expect that ServiceTitan will post -0.54 earnings per share for the current fiscal year.

Insider Activity at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 17,778 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $1,241,971.08. Following the transaction, the chief financial officer owned 313,025 shares in the company, valued at approximately $21,867,926.50. This represents a 5.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Vahe Kuzoyan sold 3,220 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $69.86, for a total transaction of $224,949.20. Following the completion of the sale, the president owned 1 shares of the company’s stock, valued at approximately $69.86. The trade was a 99.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 43,440 shares of company stock valued at $2,972,868 over the last ninety days. 39.89% of the stock is owned by company insiders.

Institutional Trading of ServiceTitan

Several hedge funds and other institutional investors have recently modified their holdings of TTAN. Woodline Partners LP increased its position in ServiceTitan by 4.6% in the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after purchasing an additional 95 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of ServiceTitan during the 2nd quarter valued at about $345,000. Russell Investments Group Ltd. bought a new stake in shares of ServiceTitan in the 2nd quarter valued at approximately $500,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in ServiceTitan in the second quarter worth approximately $393,000.

ServiceTitan Company Profile

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.