ServiceTitan (NASDAQ:TTAN) Price Target Lowered to $100.00 at TD Cowen

Key Points

• TD Cowen lowered ServiceTitan’s price target from $125 to $100 while maintaining a “buy” rating; the new target still implies 76.28% upside from the prior close.
• ServiceTitan shares fell $24.85 to $56.73 on heavy trading, near the company’s 52-week low of $54.17.
• The company beat quarterly expectations with $0.40 EPS versus $0.35 expected and revenue of $292.76 million, up 20.9% year over year; analysts retain a “Moderate Buy” consensus with a $100.69 average target.

ServiceTitan (NASDAQ:TTAN - Get Free Report) had its price target decreased by investment analysts at TD Cowen from $125.00 to $100.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. TD Cowen's target price indicates a potential upside of 76.28% from the company's previous close.

A number of other equities research analysts have also issued reports on TTAN. Weiss Ratings raised ServiceTitan from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 26th. Stifel Nicolaus set a $125.00 target price on shares of ServiceTitan in a research note on Wednesday, May 27th. BMO Capital Markets decreased their price target on shares of ServiceTitan from $103.00 to $90.00 and set an "outperform" rating for the company in a research note on Wednesday. Canaccord Genuity Group set a $90.00 price objective on shares of ServiceTitan in a research report on Wednesday. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $105.00 price objective (down from $115.00) on shares of ServiceTitan in a report on Wednesday. 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 MarketBeat, ServiceTitan has a consensus rating of "Moderate Buy" and a consensus target price of $100.69.

ServiceTitan Price Performance

Shares of TTAN stock traded down $24.85 during trading on Wednesday, reaching $56.73. The company's stock had a trading volume of 8,236,073 shares, compared to its average volume of 1,454,241. ServiceTitan has a 1-year low of $54.17 and a 1-year high of $119.60. The stock's 50-day moving average price is $84.66 and its 200 day moving average price is $72.69. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of -38.65 and a beta of 0.11.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted 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. The business had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.89 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The company's revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. On average, sell-side analysts anticipate that ServiceTitan will post -0.54 EPS for the current fiscal year.

Insider Transactions at ServiceTitan

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

Institutional Trading of ServiceTitan

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

ServiceTitan News Summary

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

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.

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