Truist Financial Corp Takes Position in ServiceTitan Inc. $TTAN

Key Points

• Truist Financial Corp acquired a new stake in ServiceTitan Inc. with 23,212 shares valued at approximately $2.49 million.
• Several analysts have recently increased their price targets for ServiceTitan, with estimates ranging from $129.00 to $155.00, reflecting a generally positive outlook on the stock.
• ServiceTitan reported a 25.5% year-over-year revenue increase despite missing EPS estimates, showcasing growth potential in its financial performance.

Truist Financial Corp acquired a new stake in shares of ServiceTitan Inc. (NASDAQ:TTAN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,212 shares of the company's stock, valued at approximately $2,488,000.

A number of other hedge funds also recently modified their holdings of the business. Harbour Capital Advisors LLC purchased a new stake in shares of ServiceTitan during the first quarter worth $252,000. Taylor Frigon Capital Management LLC acquired a new position in ServiceTitan during the first quarter worth $2,487,000. WCM Investment Management LLC acquired a new position in ServiceTitan during the first quarter worth $8,025,000. Principal Financial Group Inc. increased its position in ServiceTitan by 38.3% during the first quarter. Principal Financial Group Inc. now owns 341,097 shares of the company's stock worth $32,442,000 after buying an additional 94,518 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of ServiceTitan in the first quarter valued at about $598,000.

Wall Street Analyst Weigh In

TTAN has been the topic of several research analyst reports. Truist Financial raised their price target on ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Needham & Company LLC reiterated a "buy" rating and issued a $140.00 target price on shares of ServiceTitan in a research note on Friday, September 5th. Wells Fargo & Company lifted their target price on shares of ServiceTitan from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. BMO Capital Markets assumed coverage on shares of ServiceTitan in a report on Thursday, August 28th. They set an "outperform" rating and a $129.00 target price for the company. Finally, Piper Sandler reissued an "overweight" rating and issued a $155.00 price target on shares of ServiceTitan in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $132.67.

ServiceTitan Stock Up 2.2%

ServiceTitan stock opened at $101.50 on Friday. ServiceTitan Inc. has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The firm has a market capitalization of $9.43 billion and a PE ratio of -18.80. The company's 50-day moving average is $107.05 and its 200-day moving average is $109.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.49 and a quick ratio of 4.49.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.40). ServiceTitan had a negative net margin of 26.08% and a negative return on equity of 16.87%. The company had revenue of $242.12 million during the quarter, compared to analyst estimates of $229.58 million. The company's quarterly revenue was up 25.5% on a year-over-year basis. ServiceTitan has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Sell-side analysts anticipate that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Bessemer Venture Partners Viii sold 28,245 shares of the company's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $118.21, for a total transaction of $3,338,841.45. Following the completion of the sale, the insider owned 7,131,050 shares of the company's stock, valued at approximately $842,961,420.50. This represents a 0.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Michele O'connor sold 5,188 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $116.05, for a total transaction of $602,067.40. Following the sale, the chief accounting officer directly owned 93,748 shares of the company's stock, valued at approximately $10,879,455.40. This trade represents a 5.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,161,965 shares of company stock valued at $134,331,789 in the last quarter. Corporate insiders own 51.72% of the company's stock.

ServiceTitan Company Profile

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.