ServiceTitan Inc. (NASDAQ:TTAN) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• ServiceTitan Inc. (NASDAQ: TTAN) has received a consensus recommendation of "Moderate Buy" from twenty analysts, with an average 12-month price target of $132.67.
• Insider selling activity includes CEO Ara Mahdessian selling 3,059 shares and CAO Michele O'Connor selling 5,188 shares, collectively valued at over $957,000.
• Recent institutional investments show substantial increases in holdings, including a 300,996.1% boost by JPMorgan Chase & Co. in the second quarter.

Shares of ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $132.6667.

Several research firms have recently issued reports on TTAN. BMO Capital Markets began coverage on ServiceTitan in a research note on Thursday, August 28th. They set an "outperform" rating and a $129.00 target price on the stock. Morgan Stanley upped their price target on ServiceTitan from $109.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Friday, September 5th. Stifel Nicolaus upped their price target on ServiceTitan from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Truist Financial upped their price target on ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, Robert W. Baird upped their price target on ServiceTitan from $124.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th.

Insider Buying and Selling

In related news, CEO Ara Mahdessian sold 3,059 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $116.04, for a total value of $354,966.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michele O'connor sold 5,188 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $116.05, for a total value of $602,067.40. Following the completion of the sale, the chief accounting officer directly owned 93,748 shares in the company, valued at approximately $10,879,455.40. The trade was a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,239,225 shares of company stock valued at $143,116,946 over the last 90 days. 51.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServiceTitan

Several hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in ServiceTitan by 1.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,306,168 shares of the company's stock worth $219,341,000 after acquiring an additional 32,066 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in ServiceTitan by 1,545.2% in 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 acquiring an additional 1,930,779 shares in the last quarter. Franklin Resources Inc. boosted its holdings in ServiceTitan by 148.4% in the second quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company's stock worth $202,917,000 after acquiring an additional 1,131,062 shares in the last quarter. Invesco Ltd. boosted its holdings in ServiceTitan by 1,388.2% in the second quarter. Invesco Ltd. now owns 1,477,369 shares of the company's stock worth $158,344,000 after acquiring an additional 1,378,100 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in ServiceTitan by 300,996.1% in the second quarter. JPMorgan Chase & Co. now owns 1,324,823 shares of the company's stock worth $141,995,000 after acquiring an additional 1,324,383 shares in the last quarter.

ServiceTitan Price Performance

TTAN opened at $99.40 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.49 and a current ratio of 4.49. ServiceTitan has a 52-week low of $79.81 and a 52-week high of $131.33. The stock has a market capitalization of $9.24 billion and a PE ratio of -18.41. The stock's 50 day moving average price is $107.71 and its 200-day moving average price is $109.64.

ServiceTitan Company Profile

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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