ServiceTitan (NASDAQ:TTAN) Price Target Raised to $109.00 at Morgan Stanley

ServiceTitan (NASDAQ:TTAN - Free Report) had its target price raised by Morgan Stanley from $107.00 to $109.00 in a report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

TTAN has been the subject of a number of other reports. Stifel Nicolaus boosted their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Needham & Company LLC restated a "buy" rating and issued a $140.00 price objective on shares of ServiceTitan in a report on Friday. TD Cowen began coverage on shares of ServiceTitan in a report on Tuesday, April 8th. They set a "buy" rating and a $120.00 price target for the company. Piper Sandler reissued an "overweight" rating and set a $125.00 price target on shares of ServiceTitan in a research report on Friday, March 14th. Finally, Loop Capital dropped their price target on shares of ServiceTitan from $105.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $122.21.

ServiceTitan Stock Performance

Shares of TTAN traded down $7.95 during mid-day trading on Friday, reaching $106.60. The company's stock had a trading volume of 3,171,353 shares, compared to its average volume of 459,819. ServiceTitan has a 52 week low of $79.81 and a 52 week high of $131.33. The stock's fifty day moving average price is $113.89.

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

Insider Transactions at ServiceTitan

In other news, CFO David Sherry sold 10,175 shares of the firm's stock in a transaction dated 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 trade represents a 3.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Michele O'connor sold 5,494 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $520,007.10. Following the completion of the sale, the chief accounting officer now directly owns 89,302 shares of the company's stock, valued at approximately $8,452,434.30. This represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 51.72% of the company's stock.

Institutional Investors Weigh In On ServiceTitan

Institutional investors and hedge funds have recently modified their holdings of the stock. Deer Management Co. LLC purchased a new position in ServiceTitan during the 4th quarter valued at about $925,943,000. TPG GP A LLC purchased a new position in ServiceTitan during the 4th quarter valued at about $525,405,000. Battery Management Corp. purchased a new position in ServiceTitan during the 4th quarter valued at about $496,599,000. Price T Rowe Associates Inc. MD lifted its position in ServiceTitan by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company's stock valued at $219,341,000 after acquiring an additional 32,066 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in ServiceTitan by 1,545.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company's stock valued at $195,521,000 after acquiring an additional 1,930,779 shares during the period.

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.