BMO Capital Markets Lowers ServiceTitan (NASDAQ:TTAN) Price Target to $108.00

Key Points

• BMO Capital Markets cut its price target for ServiceTitan from $125 to $108 while maintaining an outperform rating, implying roughly a 39.9% upside from the prior close.
• MarketBeat's consensus is a Moderate Buy with an average price target of $132.06, based on 1 Strong Buy, 13 Buy, 4 Hold and 1 Sell ratings.
• Insiders have been net sellers: CEO Ara Mahdessian sold 32,000 shares and the president sold 16,388, with insiders offloading 216,371 shares worth about $22.7 million in the last quarter, though insiders still own 51.72% of the company.

ServiceTitan (NASDAQ:TTAN - Get Free Report) had its price target cut by analysts at BMO Capital Markets from $125.00 to $108.00 in a research note issued on Thursday, Marketbeat.com reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' target price suggests a potential upside of 39.90% from the stock's previous close.

TTAN has been the subject of a number of other research reports. The Goldman Sachs Group initiated coverage on shares of ServiceTitan in a research report on Tuesday, January 13th. They set a "neutral" rating and a $117.00 price objective for the company. KeyCorp restated an "overweight" rating on shares of ServiceTitan in a research report on Tuesday, December 16th. Wells Fargo & Company cut their price objective on ServiceTitan from $140.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, February 4th. Morgan Stanley raised their target price on ServiceTitan from $118.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, December 5th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ServiceTitan in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $132.06.

ServiceTitan Stock Performance

Shares of ServiceTitan stock opened at $77.20 on Thursday. The business's fifty day simple moving average is $83.44 and its 200-day simple moving average is $94.80. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07. The firm has a market cap of $7.23 billion, a PE ratio of -18.92 and a beta of -0.72. ServiceTitan has a 52 week low of $58.01 and a 52 week high of $131.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its earnings results on Thursday, December 4th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.09. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The company had revenue of $249.16 million for the quarter, compared to analysts' expectations of $238.26 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. ServiceTitan's revenue for the quarter was up 25.0% compared to the same quarter last year. Equities analysts forecast that ServiceTitan will post -1.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ara Mahdessian sold 32,000 shares of the company's stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $98.50, for a total transaction of $3,152,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Vahe Kuzoyan sold 16,388 shares of the firm's stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $100.62, for a total value of $1,648,960.56. Following the sale, the president directly owned 1 shares in the company, valued at $100.62. This trade represents a 99.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 216,371 shares of company stock valued at $22,700,994 over the last quarter. Corporate insiders own 51.72% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cloud Capital Management LLC purchased a new stake in ServiceTitan in the third quarter valued at $25,000. Toth Financial Advisory Corp increased its position in shares of ServiceTitan by 150.0% during the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company's stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of ServiceTitan by 189.1% in the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company's stock valued at $28,000 after purchasing an additional 174 shares during the last quarter. eCIO Inc. acquired a new stake in shares of ServiceTitan in the 4th quarter valued at about $30,000. Finally, Elevation Wealth Partners LLC acquired a new stake in shares of ServiceTitan in the 4th quarter valued at about $36,000.

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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