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

Shares of ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seventeen research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $124.00.

A number of research firms have recently issued reports on TTAN. Robert W. Baird lifted their price target on shares of ServiceTitan from $106.00 to $124.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Morgan Stanley lifted their price target on shares of ServiceTitan from $107.00 to $109.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. TD Cowen began coverage on shares of ServiceTitan in a research report on Tuesday, April 8th. They set a "buy" rating and a $120.00 price target for the company. TD Securities lifted their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Canaccord Genuity Group lifted their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Thursday, April 17th.

Insider Buying and Selling

In related news, Director William J.G. Griffith sold 90,917 shares of ServiceTitan stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $109.99, for a total transaction of $9,999,960.83. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of ServiceTitan stock in a transaction that occurred on 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 transaction, the insider owned 8,503,571 shares of the company's stock, valued at $867,364,242. This represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,412,338 shares of company stock valued at $150,374,391. 51.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds have recently made changes to their positions in TTAN. Deer Management Co. LLC acquired a new stake in shares of ServiceTitan during the fourth quarter worth $925,943,000. TPG GP A LLC acquired a new stake in shares of ServiceTitan during the fourth quarter worth $525,405,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of ServiceTitan during the fourth quarter worth $233,937,000. Dragoneer Investment Group LLC acquired a new stake in shares of ServiceTitan during the fourth quarter worth $210,777,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of ServiceTitan by 1,545.2% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company's stock worth $195,521,000 after purchasing an additional 1,930,779 shares during the last quarter.

ServiceTitan Stock Up 0.6%

TTAN traded up $0.75 during trading on Friday, reaching $117.69. The company's stock had a trading volume of 184,379 shares, compared to its average volume of 723,230. ServiceTitan has a 52-week low of $79.81 and a 52-week high of $131.33. The company's fifty day moving average price is $111.48 and its 200-day moving average price is $105.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The company had revenue of $215.69 million for the quarter, compared to analyst estimates of $208.61 million. The company's revenue for the quarter was up 26.6% on a year-over-year basis. Research analysts forecast that ServiceTitan will post -1.98 earnings per share for the current fiscal 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.