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

Key Points

• Wall Street sentiment is bullish: ServiceTitan has a consensus rating of “Moderate Buy” from 19 analysts, with 15 buy ratings and an average 12-month price target of about $110.53.
• Recent earnings beat expectations: The company reported quarterly EPS of $0.37 versus the expected $0.28, and revenue of $268.82 million topped estimates while rising 24.6% year over year.
• Insiders have been selling shares: CEO Ara Mahdessian and CFO David Sherry both sold stock in March, and insiders collectively sold 43,440 shares over the last quarter.

ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) has received an average rating of "Moderate Buy" from the nineteen research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $110.5333.

A number of brokerages have weighed in on TTAN. Needham & Company LLC reissued a "buy" rating and set a $100.00 target price on shares of ServiceTitan in a report on Friday, June 5th. BTIG Research boosted their price objective on shares of ServiceTitan from $90.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, June 5th. Truist Financial reissued a "buy" rating and issued a $110.00 target price (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. Piper Sandler lifted their target price on ServiceTitan from $100.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, June 5th. Finally, TD Cowen upped their target price on ServiceTitan from $110.00 to $125.00 and gave the company a "buy" rating in a report on Friday, June 5th.

ServiceTitan Stock Performance

Shares of TTAN opened at $66.77 on Monday. ServiceTitan has a 52 week low of $54.17 and a 52 week high of $119.99. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of -46.05 and a beta of 0.12. The stock has a 50 day moving average of $64.04 and a 200-day moving average of $77.40.

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

Insider Buying and Selling

In related news, CEO Ara Mahdessian sold 2,288 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $159,839.68. Following the sale, the chief executive officer owned 1 shares of the company's stock, valued at $69.86. This trade represents a 99.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Sherry sold 17,778 shares of ServiceTitan stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $1,241,971.08. Following the completion of the sale, the chief financial officer owned 313,025 shares in the company, valued at approximately $21,867,926.50. This represents a 5.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 43,440 shares of company stock worth $2,972,868. 39.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceTitan

Several large investors have recently made changes to their positions in TTAN. Woodline Partners LP boosted its position in shares of ServiceTitan by 4.6% during the first quarter. Woodline Partners LP now owns 2,141 shares of the company's stock worth $204,000 after buying an additional 95 shares during the period. PNC Financial Services Group Inc. raised its stake in ServiceTitan by 16.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 858 shares of the company's stock valued at $87,000 after acquiring an additional 119 shares in the last quarter. Toth Financial Advisory Corp raised its stake in ServiceTitan by 150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 250 shares of the company's stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. Farther Finance Advisors LLC boosted its position in ServiceTitan by 189.1% during the 4th quarter. Farther Finance Advisors LLC now owns 266 shares of the company's stock worth $28,000 after acquiring an additional 174 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of ServiceTitan by 30.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 906 shares of the company's stock worth $96,000 after purchasing an additional 209 shares in the last quarter.

ServiceTitan Company Profile

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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