ServiceTitan (NASDAQ:TTAN) Given Buy Rating at TD Cowen

Key Points

• TD Cowen reiterated its “buy” rating on ServiceTitan and set a $100 price target, implying roughly 69% upside from the stock’s $59.08 price. Analysts overall maintain a “Moderate Buy” consensus with an average target of $96.38.
• ServiceTitan shares fell 1.5% to $59.08 and remain well below their 12-month high of $111.36. The company nevertheless beat quarterly expectations, reporting $0.40 in adjusted EPS versus $0.35 expected and revenue of $292.76 million, up 20.9% year over year.
• Insiders sold 324,533 shares worth $26.8 million over the last quarter, though one sale was tied to tax withholding and another occurred under a pre-arranged trading plan; insiders retain a 39.89% ownership stake.

ServiceTitan (NASDAQ:TTAN - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at TD Cowen in a note issued to investors on Friday, Benzinga reports. They presently have a $100.00 price objective on the stock. TD Cowen's price objective would indicate a potential upside of 69.28% from the company's current price.

A number of other analysts also recently weighed in on TTAN. Wells Fargo & Company cut their price target on shares of ServiceTitan from $115.00 to $105.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 9th. Robert W. Baird cut their price target on shares of ServiceTitan from $101.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 9th. Morgan Stanley cut their price target on shares of ServiceTitan from $124.00 to $92.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 9th. Evercore set a $90.00 price target on shares of ServiceTitan in a research report on Wednesday, September 9th. Finally, Needham & Company LLC restated a "buy" rating and set a $100.00 target price on shares of ServiceTitan in a report on Wednesday, September 9th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $96.38.

ServiceTitan Trading Down 1.5%

Shares of NASDAQ:TTAN traded down $0.91 during mid-day trading on Friday, reaching $59.08. The stock had a trading volume of 351,924 shares, compared to its average volume of 1,734,148. The firm has a market cap of $5.70 billion, a PE ratio of -43.44 and a beta of 0.11. The firm has a 50 day simple moving average of $79.77 and a two-hundred day simple moving average of $71.51. ServiceTitan has a twelve month low of $53.00 and a twelve month high of $111.36.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. The business 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%. ServiceTitan's revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. On average, equities analysts anticipate that ServiceTitan will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at ServiceTitan

In other news, CAO Michele O'connor sold 5,581 shares of the firm's stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $57.07, for a total transaction of $318,507.67. Following the completion of the transaction, the chief accounting officer directly owned 66,095 shares of the company's stock, valued at $3,772,041.65. This trade represents a 7.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Vahe Kuzoyan sold 114,732 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $88.84, for a total transaction of $10,192,790.88. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 324,533 shares of company stock valued at $26,813,042 over the last quarter. Insiders own 39.89% of the company's stock.

Hedge Funds Weigh In On ServiceTitan

Hedge funds have recently made changes to their positions in the business. State of Wyoming acquired a new position in ServiceTitan during the first quarter worth about $48,000. Elevation Wealth Partners LLC raised its stake in ServiceTitan by 20.0% during the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company's stock worth $61,000 after acquiring an additional 144 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in ServiceTitan by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company's stock worth $96,000 after acquiring an additional 209 shares in the last quarter. Parallel Advisors LLC raised its stake in ServiceTitan by 226.4% during the first quarter. Parallel Advisors LLC now owns 1,717 shares of the company's stock worth $109,000 after acquiring an additional 1,191 shares in the last quarter. Finally, KBC Group NV raised its stake in ServiceTitan by 101.6% during the first quarter. KBC Group NV now owns 1,730 shares of the company's stock worth $110,000 after acquiring an additional 872 shares in the last quarter.

ServiceTitan Company Profile

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company's products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.