ServiceTitan (NASDAQ:TTAN) Earns "Buy" Rating from BTIG Research

ServiceTitan (NASDAQ:TTAN - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at BTIG Research in a research note issued on Friday, Benzinga reports. They currently have a $110.00 target price on the stock. BTIG Research's target price indicates a potential upside of 63.35% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. KeyCorp dropped their target price on ServiceTitan from $120.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 9th. Weiss Ratings raised ServiceTitan from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday. Citigroup reduced their price target on shares of ServiceTitan from $83.00 to $76.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 9th. BMO Capital Markets decreased their target price on shares of ServiceTitan from $103.00 to $90.00 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. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $96.38.

ServiceTitan Stock Up 2.4%

NASDAQ TTAN opened at $67.34 on Friday. The business has a 50 day moving average price of $78.72 and a 200-day moving average price of $71.02. The company has a market cap of $6.50 billion, a price-to-earnings ratio of -49.51 and a beta of 0.34. ServiceTitan has a 52 week low of $53.00 and a 52 week high of $111.36.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. The firm had revenue of $292.76 million for the quarter, compared to the consensus estimate of $285.90 million. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The business'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 firm earned $0.33 EPS. On average, equities research analysts anticipate that ServiceTitan will post -0.53 earnings per share for the current year.

Insider Transactions at ServiceTitan

In other ServiceTitan news, CEO Ara Mahdessian sold 51,947 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total value of $4,206,668.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Sherry sold 23,246 shares of ServiceTitan 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 transaction, 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 quarter, insiders have sold 324,533 shares of company stock worth $26,813,042. 39.89% of the stock is owned by company insiders.

Institutional Trading of ServiceTitan

Several institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its stake in ServiceTitan by 33.8% during the 4th quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company's stock valued at $214,494,000 after acquiring an additional 508,848 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of ServiceTitan by 47.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company's stock worth $172,248,000 after acquiring an additional 519,024 shares during the period. Capital International Investors lifted its holdings in ServiceTitan by 23.9% in the fourth quarter. Capital International Investors now owns 1,224,699 shares of the company's stock valued at $130,430,000 after acquiring an additional 236,287 shares during the period. Bamco Inc. NY boosted its position in ServiceTitan by 14.0% in the fourth quarter. Bamco Inc. NY now owns 1,096,931 shares of the company's stock worth $116,823,000 after purchasing an additional 134,313 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of ServiceTitan during the 4th quarter valued at about $112,678,000.

ServiceTitan Company Profile

ServiceTitan, Inc is a cloud-based software company that provides business management solutions for residential and commercial contractors. Its platform is designed for companies in the trades, including heating, ventilation and air conditioning (HVAC), plumbing, electrical, roofing, landscaping and related services.

ServiceTitan's products support a range of operational and customer-facing functions, including scheduling and dispatching, customer relationship management, estimates, invoicing, payments, marketing, reporting and field-service management.