Piper Sandler Forecasts Strong Price Appreciation for ServiceTitan (NASDAQ:TTAN) Stock

Key Points

• Piper Sandler raised its price target on ServiceTitan from $100 to $115 and kept an overweight rating, implying about 54.7% upside from the previous close.
• ServiceTitan’s latest quarter beat expectations, with EPS of $0.37 versus $0.28 expected and revenue up 24.6% year over year to $268.8 million.
• Despite the strong results, the stock still faces profitability concerns, as the company reported a net loss and negative margins, while analysts overall remain split with a Moderate Buy consensus target of $109.47.

ServiceTitan (NASDAQ:TTAN - Get Free Report) had its target price upped by equities researchers at Piper Sandler from $100.00 to $115.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price objective indicates a potential upside of 54.72% from the company's previous close.

TTAN has been the subject of several other reports. Citigroup lowered their price objective on shares of ServiceTitan from $117.00 to $88.00 and set a "neutral" rating for the company in a report on Friday, March 13th. TD Cowen lowered their price objective on shares of ServiceTitan from $135.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, May 26th. Canaccord Genuity Group lowered their price objective on shares of ServiceTitan from $140.00 to $105.00 and set a "buy" rating for the company in a report on Friday, March 13th. The Goldman Sachs Group lowered their price objective on shares of ServiceTitan from $117.00 to $84.00 and set a "neutral" rating for the company in a report on Monday, March 16th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of ServiceTitan in a report on Friday, April 24th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $109.47.

ServiceTitan Trading Up 2.3%

ServiceTitan stock opened at $74.33 on Friday. The firm has a 50-day moving average of $62.95 and a 200-day moving average of $78.04. The firm has a market cap of $7.08 billion, a P/E ratio of -43.21 and a beta of 0.13. ServiceTitan has a 1-year low of $54.17 and a 1-year high of $119.99.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.09. The company had revenue of $268.82 million during the quarter, compared to analyst estimates of $256.65 billion. ServiceTitan had a negative net margin of 16.64% and a negative return on equity of 6.86%. ServiceTitan's revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. Research analysts forecast that ServiceTitan will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 17,778 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $1,241,971.08. Following the completion of the transaction, the chief financial officer owned 313,025 shares of the company's stock, valued at approximately $21,867,926.50. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Vahe Kuzoyan sold 3,220 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $224,949.20. Following the sale, the president directly owned 1 shares of the company's stock, valued at $69.86. This trade represents a 99.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,440 shares of company stock worth $2,281,468 over the last three months. Company insiders own 39.89% of the company's stock.

Institutional Investors Weigh In On ServiceTitan

Several institutional investors and hedge funds have recently made changes to their positions in TTAN. Toth Financial Advisory Corp increased its position in shares of ServiceTitan by 150.0% during the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company's stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of ServiceTitan by 189.1% during the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company's stock valued at $28,000 after acquiring an additional 174 shares in the last quarter. eCIO Inc. bought a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $30,000. Elevation Wealth Partners LLC bought a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock valued at $46,000 after acquiring an additional 392 shares in the last quarter.

ServiceTitan News Summary

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan beat Q1 expectations, posting adjusted EPS of $0.37 versus the $0.28 consensus and revenue of $268.8 million, ahead of estimates, while revenue rose 24.6% year over year. ServiceTitan earnings report and conference call
• Positive Sentiment: The company lifted its fiscal second-quarter and full-year revenue guidance, signaling management confidence in continued demand and execution. ServiceTitan Announces Fiscal First Quarter Financial Results
• Positive Sentiment: Coverage highlighting post-earnings trading said TTAN surged in after-hours activity as investors focused on the strong quarter and raised outlook. TTAN Stock Surges 14% After-Hours As ServiceTitan Delivers Strong Quarter, Lifts Guidance
• Neutral Sentiment: Investors are also watching for AI-related growth commentary, but that appears to be a secondary theme versus the earnings and guidance update. ServiceTitan heads into earnings spotlight as investors look for fresh AI growth signals
• Negative Sentiment: Despite the beat, ServiceTitan still reported a net loss and negative margins, so profitability remains a risk factor for the stock. ServiceTitan stock and fundamentals

About ServiceTitan

ServiceTitan, Inc NASDAQ: TTAN is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company's platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan's offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.

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