ServiceTitan Inc. (NASDAQ:TTAN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on ServiceTitan, with 15 buy, 3 hold and 1 sell rating among 19 brokerages. The average 12-month price target is $110.53.
• ServiceTitan exceeded quarterly expectations, reporting $0.37 EPS versus $0.28 expected and $268.82 million in revenue, up 24.6% year over year. However, the company remains unprofitable, with a negative 13.44% net margin.
• Shares opened at $83.37, below the average analyst target but above both the 50-day and 200-day moving averages. Insiders sold nearly 297,000 shares worth about $20 million over the past 90 days, while insiders retain a 39.89% ownership stake.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nineteen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $110.5333.

TTAN has been the topic of a number of recent research reports. BMO Capital Markets lifted their price objective on ServiceTitan from $92.00 to $103.00 and gave the company an "outperform" rating in a report on Friday, June 5th. Citigroup reaffirmed a "neutral" rating on shares of ServiceTitan in a research note on Monday, June 8th. KeyCorp reiterated an "overweight" rating on shares of ServiceTitan in a research report on Tuesday, May 26th. TD Cowen increased their price objective on ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. Finally, Truist Financial restated a "buy" rating and issued a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research note on Friday, June 5th.

ServiceTitan Stock Performance

Shares of TTAN stock opened at $83.37 on Tuesday. The firm has a fifty day moving average of $72.84 and a 200-day moving average of $70.04. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of -57.50 and a beta of 0.13. ServiceTitan has a 52-week low of $54.17 and a 52-week high of $119.99.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. During the same period in the previous year, the business earned $0.18 EPS. The firm's revenue was up 24.6% on a year-over-year basis. On average, sell-side analysts predict that ServiceTitan will post -0.54 earnings per share for the current year.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the company's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the sale, the insider directly owned 443,221 shares of the company's stock, valued at approximately $28,113,508.03. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ara Mahdessian sold 51,947 shares of the company's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $80.98, for a total transaction of $4,206,668.06. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 296,664 shares of company stock worth $19,958,797 over the last ninety days. Company insiders own 39.89% of the company's stock.

Institutional Investors Weigh In On ServiceTitan

A number of large investors have recently bought and sold shares of the business. Toth Financial Advisory Corp boosted its stake in ServiceTitan by 150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 250 shares of the company's stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of ServiceTitan by 189.1% in the fourth quarter. Farther Finance Advisors LLC now owns 266 shares of the company's stock valued at $28,000 after buying an additional 174 shares in the last quarter. eCIO Inc. bought a new position in shares of ServiceTitan in the fourth quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock valued at $46,000 after buying an additional 392 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its position in ServiceTitan by 391.0% during the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company's stock worth $52,000 after buying an additional 391 shares in the last quarter.

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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