ServiceTitan Inc. (NASDAQ:TTAN) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

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ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seventeen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $126.8571.

A number of equities research analysts have recently weighed in on TTAN shares. Morgan Stanley lifted their target price on ServiceTitan from $107.00 to $109.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Piper Sandler reissued an "overweight" rating and set a $150.00 target price (up previously from $125.00) on shares of ServiceTitan in a report on Tuesday, July 22nd. Loop Capital raised ServiceTitan from a "hold" rating to a "buy" rating and lifted their target price for the stock from $100.00 to $140.00 in a report on Monday. Robert W. Baird lifted their target price on ServiceTitan from $106.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 price target on shares of ServiceTitan in a research note on Friday, June 6th.

Insiders Place Their Bets

In other news, CEO Ara Mahdessian sold 42,674 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $110.84, for a total transaction of $4,729,986.16. Following the sale, the chief executive officer directly owned 1 shares in the company, valued at approximately $110.84. The trade was a 100.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $102.00, for a total value of $51,000,000.00. Following the sale, the insider owned 8,503,571 shares in the company, valued at approximately $867,364,242. This trade represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,461,518 shares of company stock worth $155,943,554. Insiders own 51.72% of the company's stock.

Institutional Trading of ServiceTitan

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Investment Advisory LLC bought a new stake in shares of ServiceTitan during the first quarter worth about $31,000. Northwestern Mutual Wealth Management Co. grew its holdings 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 worth $46,000 after purchasing an additional 392 shares during the last quarter. LRI Investments LLC bought a new stake in shares of ServiceTitan during the first quarter worth about $58,000. PNC Financial Services Group Inc. bought a new stake in ServiceTitan in the second quarter valued at approximately $79,000. Finally, EverSource Wealth Advisors LLC bought a new stake in ServiceTitan in the second quarter valued at approximately $94,000.

ServiceTitan Trading Up 3.4%

Shares of ServiceTitan stock opened at $107.24 on Tuesday. The business has a fifty day simple moving average of $108.91 and a two-hundred day simple moving average of $106.71. ServiceTitan has a 1 year low of $79.81 and a 1 year high of $131.33. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its earnings results 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 firm had revenue of $215.69 million for the quarter, compared to analyst estimates of $208.61 million. ServiceTitan's quarterly revenue was up 26.6% compared to the same quarter last year. On average, research analysts anticipate that ServiceTitan will post -1.98 earnings per share for the current year.

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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