ServiceTitan Inc. (NASDAQ:TTAN) Stock Has Average Price Target of $96.38 According to Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on ServiceTitan, with 14 buys, two holds and one sell among 17 analysts. The average 12-month price target is $96.38, implying upside from the stock’s $74.98 opening price.
• Several brokerages recently cut their price targets, including Canaccord Genuity, BMO Capital Markets, Stifel, Robert W. Baird and Citigroup, while retaining mostly positive ratings.
• ServiceTitan exceeded quarterly expectations, reporting $0.40 EPS and $292.76 million in revenue, while revenue grew 20.9% year over year. Despite the beat, the company posted a negative net margin and insiders sold roughly $22.2 million of shares over the past three months.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seventeen analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $96.38.

Several research analysts have weighed in on the company. Canaccord Genuity Group cut their price objective on ServiceTitan from $105.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, September 9th. BMO Capital Markets decreased their target price on ServiceTitan from $103.00 to $90.00 and set an "outperform" rating for the company in a research report on Wednesday, September 9th. Stifel Nicolaus lowered their target price on ServiceTitan from $125.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, September 9th. Robert W. Baird lowered their target price on ServiceTitan from $101.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 9th. Finally, Citigroup cut their price target on shares of ServiceTitan from $83.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, September 9th.

ServiceTitan Stock Down 1.5%

Shares of NASDAQ TTAN opened at $74.98 on Friday. ServiceTitan has a twelve month low of $53.00 and a twelve month high of $111.36. The stock's 50 day moving average price is $76.61 and its 200-day moving average price is $71.43. The company has a market capitalization of $7.23 billion, a PE ratio of -55.13 and a beta of 0.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $292.76 million during the quarter, compared to analyst estimates of $285.89 million. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%. ServiceTitan's quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. As a group, research analysts expect that ServiceTitan will post -0.52 EPS for the current fiscal year.

Insider Activity at ServiceTitan

In other ServiceTitan news, CAO Michele O'connor sold 4,380 shares of ServiceTitan stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $61.35, for a total value of $268,713.00. Following the sale, the chief accounting officer owned 61,715 shares of the company's stock, valued at approximately $3,786,215.25. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Vahe Kuzoyan sold 3,148 shares of ServiceTitan stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $57.07, for a total transaction of $179,656.36. Following the completion of the sale, the president directly owned 2 shares in the company, valued at approximately $114.14. This represents a 99.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 267,676 shares of company stock worth $22,209,008. 39.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceTitan

Large investors have recently modified their holdings of the stock. WINTON GROUP Ltd purchased a new stake in ServiceTitan in the 2nd quarter worth about $5,218,000. Whetstone Capital Advisors LLC bought a new stake in ServiceTitan in the 2nd quarter valued at about $3,275,000. Stockbridge Partners LLC bought a new stake in ServiceTitan in the 2nd quarter valued at about $13,333,000. Tidal Investments LLC lifted its holdings in ServiceTitan by 598.9% during the second quarter. Tidal Investments LLC now owns 27,963 shares of the company's stock valued at $1,977,000 after purchasing an additional 23,962 shares during the last quarter. Finally, Shah Wealth Advisors LLC purchased a new stake in ServiceTitan during the second quarter valued at about $1,186,000.

About ServiceTitan

ServiceTitan, Inc is a cloud-based software company that provides business management solutions for residential and commercial contractors. Its platform is designed for companies in the trades, including heating, ventilation and air conditioning (HVAC), plumbing, electrical, roofing, landscaping and related services.

ServiceTitan's products support a range of operational and customer-facing functions, including scheduling and dispatching, customer relationship management, estimates, invoicing, payments, marketing, reporting and field-service management.

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