ServiceTitan Inc. (NASDAQ:TTAN) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate ServiceTitan a “Moderate Buy”: Fourteen of 18 analysts recommend buying, three rate it a hold and one a sell; the average 12-month price target is $95.76.
• Quarterly results beat estimates: ServiceTitan reported EPS of $0.40 versus the $0.35 consensus and revenue of $292.76 million, up 20.9% year over year.
• Company insiders sold a combined 154,641 shares worth about $12.2 million over the last quarter; insiders still own 39.89% of the stock.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) has received an average recommendation of "Moderate Buy" from the eighteen ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $95.76.

Several brokerages have commented on TTAN. Citigroup decreased their price objective on shares of ServiceTitan from $83.00 to $76.00 and set a "neutral" rating for the company in a research note on Wednesday, September 9th. Wells Fargo & Company cut their price objective on shares of ServiceTitan from $115.00 to $105.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 9th. Evercore set a $90.00 price objective on shares of ServiceTitan in a research note on Wednesday, September 9th. TD Cowen reissued a "buy" rating and set a $100.00 target price on shares of ServiceTitan in a report on Wednesday, October 7th. Finally, KeyCorp restated an "overweight" rating on shares of ServiceTitan in a research report on Thursday, October 8th.

ServiceTitan Stock Down 0.6%

Shares of NASDAQ:TTAN opened at $81.82 on Thursday. ServiceTitan has a 52-week low of $53.00 and a 52-week high of $111.36. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of -60.16 and a beta of 0.09. The business has a 50-day moving average price of $72.88 and a 200-day moving average price of $72.30.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its earnings results on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%. The firm had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.89 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. ServiceTitan's revenue for the quarter was up 20.9% on a year-over-year basis. As a group, equities analysts anticipate that ServiceTitan will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceTitan news, CAO Michele O'connor sold 4,380 shares of ServiceTitan stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $61.35, for a total transaction of $268,713.00. Following the completion of the transaction, the chief accounting officer owned 61,715 shares in the company, valued at approximately $3,786,215.25. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David Sherry sold 1,138 shares of ServiceTitan stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $75.22, for a total value of $85,600.36. Following the transaction, the chief financial officer owned 362,373 shares of the company's stock, valued at $27,257,697.06. The trade was a 0.31% decrease in their position. 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 a total of 154,641 shares of company stock valued at $12,203,290 over the last quarter. 39.89% of the stock is currently owned by company insiders.

Institutional Trading of ServiceTitan

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Madison Asset Management LLC raised its position in ServiceTitan by 41.1% during the first quarter. Madison Asset Management LLC now owns 900,112 shares of the company's stock valued at $57,121,000 after acquiring an additional 262,037 shares in the last quarter. Janus Henderson Group PLC boosted its position in ServiceTitan by 1.5% in the 1st quarter. Janus Henderson Group PLC now owns 783,560 shares of the company's stock worth $49,724,000 after purchasing an additional 11,362 shares in the last quarter. Royal Bank of Canada boosted its position in ServiceTitan by 36.1% in the 1st quarter. Royal Bank of Canada now owns 433,122 shares of the company's stock worth $27,485,000 after purchasing an additional 114,859 shares in the last quarter. Jennison Associates LLC grew its stake in shares of ServiceTitan by 235.3% during the 1st quarter. Jennison Associates LLC now owns 380,468 shares of the company's stock worth $24,145,000 after purchasing an additional 267,002 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of ServiceTitan by 258.7% during the 2nd quarter. Wellington Management Group LLP now owns 316,695 shares of the company's stock worth $22,394,000 after purchasing an additional 228,417 shares during the period.

About ServiceTitan

ServiceTitan provides cloud-based software for businesses in the residential and commercial services industries. Its platform is designed for contractors in trades such as heating, ventilation and air conditioning, plumbing, electrical work and roofing. The software brings together tools for managing customer relationships, scheduling and dispatching field workers, preparing estimates, handling invoices and payments, and overseeing day-to-day business operations. ServiceTitan also offers mobile tools for technicians working in the field.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.