Loop Capital Issues Positive Forecast for ServiceTitan (NASDAQ:TTAN) Stock Price

ServiceTitan (NASDAQ:TTAN - Free Report) had its price target raised by Loop Capital from $90.00 to $100.00 in a research report released on Friday,Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also recently issued research reports about the stock. TD Cowen assumed coverage on shares of ServiceTitan in a research note on Tuesday, April 8th. They set a "buy" rating and a $120.00 target price on the stock. Morgan Stanley boosted their price objective on shares of ServiceTitan from $107.00 to $109.00 and gave the company an "equal weight" rating in a report on Friday. Robert W. Baird raised their target price on shares of ServiceTitan from $106.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday. TD Securities lifted their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, KeyCorp boosted their target price on shares of ServiceTitan from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, ServiceTitan presently has a consensus rating of "Moderate Buy" and an average target price of $122.21.

ServiceTitan Trading Down 6.9%

TTAN traded down $7.95 during trading on Friday, hitting $106.60. 3,171,353 shares of the company's stock traded hands, compared to its average volume of 459,819. The business's 50 day moving average is $113.89. ServiceTitan has a 12-month low of $79.81 and a 12-month high of $131.33.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $215.69 million during the quarter, compared to analysts' expectations of $208.61 million. The business's quarterly revenue was up 26.6% compared to the same quarter last year. As a group, research analysts forecast that ServiceTitan will post -1.98 EPS for the current year.

Insider Activity

In related news, CFO David Sherry sold 10,175 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $963,063.75. Following the completion of the sale, the chief financial officer now directly owns 325,409 shares of the company's stock, valued at approximately $30,799,961.85. This represents a 3.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Michele O'connor sold 5,494 shares of ServiceTitan stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total transaction of $520,007.10. Following the transaction, the chief accounting officer now directly owns 89,302 shares in the company, valued at $8,452,434.30. This represents a 5.80% decrease in their position. The disclosure for this sale can be found here. Insiders own 51.72% of the company's stock.

Hedge Funds Weigh In On ServiceTitan

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of ServiceTitan during the 4th quarter valued at $26,000. Harbor Investment Advisory LLC bought a new stake in ServiceTitan during the first quarter valued at about $31,000. LRI Investments LLC purchased a new position in shares of ServiceTitan in the first quarter valued at about $58,000. Assetmark Inc. bought a new position in shares of ServiceTitan in the fourth quarter worth about $67,000. Finally, FIL Ltd purchased a new stake in shares of ServiceTitan during the fourth quarter worth about $67,000.

About ServiceTitan

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.