ServiceTitan Inc. (NASDAQ:TTAN) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• ServiceTitan Inc. (NASDAQ:TTAN) has received an average rating of "Moderate Buy" from 19 brokerages, with 14 analysts recommending a buy and one a strong buy.
• The average 1-year price target among analysts for ServiceTitan is $130.67, with several brokerage firms recently raising their price targets for the stock.
• Insider activity shows significant stock sales, with 1.78 million shares sold by insiders in the last three months, totaling approximately $200 million in value.

Shares of ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) have been given an average rating of "Moderate Buy" by the nineteen brokerages that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $130.6667.

A number of equities analysts recently weighed in on the stock. Truist Financial boosted their target price on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Wells Fargo & Company boosted their target price on shares of ServiceTitan from $125.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Needham & Company LLC restated a "buy" rating and set a $140.00 target price on shares of ServiceTitan in a report on Friday, September 5th. 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 on the stock. Finally, Stifel Nicolaus boosted their target price on shares of ServiceTitan from $125.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, September 5th.

Insider Activity at ServiceTitan

In other ServiceTitan news, Director William J.G. Griffith sold 90,917 shares of the company's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $109.99, for a total value of $9,999,960.83. Following the transaction, the director directly owned 483,635 shares in the company, valued at $53,195,013.65. The trade was a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ara Mahdessian sold 45,185 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $103.71, for a total transaction of $4,686,136.35. The disclosure for this sale can be found here. In the last three months, insiders sold 1,779,667 shares of company stock valued at $200,437,746. 51.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On ServiceTitan

Several institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. increased its holdings in shares of ServiceTitan by 251.5% in the second quarter. Osaic Holdings Inc. now owns 1,195 shares of the company's stock valued at $128,000 after purchasing an additional 855 shares during the last quarter. Daventry Group LP acquired a new position in shares of ServiceTitan in the second quarter valued at $6,216,000. Squarepoint Ops LLC increased its holdings in shares of ServiceTitan by 1,015.4% in the second quarter. Squarepoint Ops LLC now owns 36,451 shares of the company's stock valued at $3,907,000 after purchasing an additional 33,183 shares during the last quarter. Liontrust Investment Partners LLP acquired a new position in shares of ServiceTitan in the second quarter valued at $2,935,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of ServiceTitan in the second quarter valued at $2,144,000.

ServiceTitan Price Performance

Shares of TTAN opened at $113.37 on Friday. The company has a market cap of $10.28 billion and a price-to-earnings ratio of -20.99. ServiceTitan has a 1-year low of $79.81 and a 1-year high of $131.33. The company's fifty day simple moving average is $109.74 and its 200 day simple moving average is $107.63. The company has a current ratio of 4.49, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07.

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.

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