Robert W. Baird Has Lowered Expectations for ServiceTitan (NASDAQ:TTAN) Stock Price

Key Points

• Robert W. Baird cut ServiceTitan’s price target from $101 to $85 while maintaining an “outperform” rating, implying roughly 4.2% upside from the stock’s $81.58 price. The analyst move contrasts with a broader “Moderate Buy” consensus and average target of $104.07.
• ServiceTitan exceeded quarterly expectations, reporting $0.40 EPS versus $0.35 expected and $292.76 million in revenue, up 20.9% year over year and above estimates.
• Insiders sold 514,837 shares worth approximately $39.2 million over the past 90 days, while several institutional investors established new positions in the company.

ServiceTitan (NASDAQ:TTAN - Get Free Report) had its price objective cut by analysts at Robert W. Baird from $101.00 to $85.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's target price would indicate a potential upside of 4.19% from the company's current price.

A number of other equities analysts have also recently issued reports on TTAN. KeyCorp cut their price objective on shares of ServiceTitan from $120.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday. Truist Financial reiterated a "buy" rating and set a $110.00 price target (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th. Stifel Nicolaus set a $125.00 price target on ServiceTitan in a research report on Wednesday, May 27th. Weiss Ratings upgraded shares of ServiceTitan from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 26th. Finally, Citigroup reiterated a "neutral" rating on shares of ServiceTitan in a report on Monday, June 8th. Fourteen equities research 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $104.07.

ServiceTitan Price Performance

Shares of NASDAQ:TTAN opened at $81.58 on Wednesday. The firm has a 50 day simple moving average of $84.66 and a 200 day simple moving average of $72.69. The company has a market cap of $7.78 billion, a price-to-earnings ratio of -56.26 and a beta of 0.11. ServiceTitan has a one year low of $54.17 and a one year high of $119.99.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The business had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.89 million. During the same quarter in the previous year, the company posted $0.33 EPS. ServiceTitan's quarterly revenue was up 20.9% compared to the same quarter last year. As a group, analysts expect that ServiceTitan will post -0.54 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the company's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the transaction, the insider directly owned 443,221 shares in the company, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Griffith sold 94,415 shares of ServiceTitan stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the transaction, the director directly owned 443,221 shares in the company, valued at $28,113,508.03. This trade represents a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 514,837 shares of company stock valued at $39,203,222 in the last 90 days. 39.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC bought a new position in ServiceTitan in the fourth quarter worth $39,174,000. Littlejohn & Co. LLC bought a new stake in shares of ServiceTitan during the 4th quarter valued at $19,686,000. Stockbridge Partners LLC purchased a new stake in shares of ServiceTitan in the 2nd quarter worth about $13,333,000. Madison Asset Management LLC bought a new position in shares of ServiceTitan in the 4th quarter worth about $67,955,000. Finally, ABN Amro Investment Solutions purchased a new position in ServiceTitan during the 4th quarter valued at about $4,404,000.

Key Stories Impacting ServiceTitan

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan reported quarterly EPS of $0.40, above the $0.35 consensus estimate, while revenue rose 20.9% year over year to $292.76 million, exceeding expectations of approximately $285.9 million. ServiceTitan fiscal second-quarter results
• Positive Sentiment: BTIG Research reaffirmed its “buy” rating and set a $110 price target, implying substantial upside from the stock’s current level. ServiceTitan analyst expectations

About ServiceTitan

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.

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