ServiceTitan Inc. (NASDAQ:TTAN) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on ServiceTitan, with 14 buy ratings, two holds and one sell among 17 analysts. The average 12-month price target is approximately $108.93.
• ServiceTitan’s latest quarterly results exceeded expectations, with EPS of $0.37 versus the $0.28 consensus and revenue of $268.82 million, up 24.6% year over year.
• Shares opened at $99.87, while insiders sold approximately $39.9 million in stock over the last quarter; meanwhile, several major institutional investors increased their positions.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seventeen analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $108.9286.

Several research analysts recently commented on the company. Citigroup reaffirmed a "neutral" rating on shares of ServiceTitan in a research report on Monday, June 8th. Truist Financial reissued a "buy" rating and issued a $110.00 price target (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. BTIG Research restated a "buy" rating and issued a $110.00 price objective on shares of ServiceTitan in a research note on Friday, July 10th. Robert W. Baird raised their price objective on shares of ServiceTitan from $94.00 to $101.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Finally, Piper Sandler lifted their target price on shares of ServiceTitan from $100.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, June 5th.

Insider Activity

In other ServiceTitan news, CFO David Sherry sold 20,192 shares of the firm's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total transaction of $1,336,508.48. Following the completion of the transaction, the chief financial officer owned 398,033 shares in the company, valued at $26,345,804.27. This trade represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ara Mahdessian sold 51,947 shares of ServiceTitan stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $80.98, for a total value of $4,206,668.06. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 524,837 shares of company stock valued at $39,894,622. 39.89% of the stock is owned by company insiders.

Institutional Trading of ServiceTitan

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in ServiceTitan by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company's stock worth $518,549,000 after acquiring an additional 439,079 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of ServiceTitan by 7,065.5% in the 2nd quarter. California State Teachers Retirement System now owns 4,537,461 shares of the company's stock worth $320,844,000 after purchasing an additional 4,474,137 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of ServiceTitan by 33.8% in the 4th quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company's stock worth $214,494,000 after purchasing an additional 508,848 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of ServiceTitan by 47.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company's stock worth $172,248,000 after purchasing an additional 519,024 shares in the last quarter. Finally, Greenoaks Capital Partners LLC increased its position in shares of ServiceTitan by 20.6% during the 4th quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company's stock worth $165,315,000 after purchasing an additional 264,926 shares in the last quarter.

ServiceTitan Stock Down 0.8%

Shares of TTAN opened at $99.87 on Friday. The stock's 50-day moving average price is $81.25 and its 200 day moving average price is $71.23. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of -68.88 and a beta of 0.02. ServiceTitan has a 12-month low of $54.17 and a 12-month high of $119.99.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.09. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The company had revenue of $268.82 million during the quarter, compared to the consensus estimate of $257.40 million. The company's quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the company earned $0.18 EPS. Equities research analysts expect that ServiceTitan will post -0.54 EPS for the current year.

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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