ServiceTitan's (TTAN) "Overweight" Rating Reiterated at Piper Sandler

Key Points

• Piper Sandler has reaffirmed their "overweight" rating for ServiceTitan (NASDAQ:TTAN), setting a price target of $155.00, suggesting a potential upside of 32.30% from the current price.
• The consensus rating for ServiceTitan is "Moderate Buy," with fourteen analysts giving a Buy rating and a consensus price target of $130.67.
• Insider transactions indicate significant selling activity, with major shareholders like Bessemer Venture Partners selling shares, although they still maintain a large ownership of over 51% in the company.

Piper Sandler reiterated their overweight rating on shares of ServiceTitan (NASDAQ:TTAN - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $155.00 target price on the stock.

Several other research firms also recently issued reports on TTAN. Stifel Nicolaus upped their price target on ServiceTitan from $125.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. KeyCorp set a $140.00 price target on ServiceTitan and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company upped their price target on ServiceTitan from $125.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Needham & Company LLC reiterated a "buy" rating and set a $140.00 price target on shares of ServiceTitan 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. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, ServiceTitan has a consensus rating of "Moderate Buy" and a consensus target price of $132.67.

ServiceTitan Stock Down 3.0%

NASDAQ TTAN traded down $3.28 on Friday, reaching $107.50. The stock had a trading volume of 594,141 shares, compared to its average volume of 837,580. The business has a 50 day moving average price of $110.44 and a 200 day moving average price of $108.85. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.07. ServiceTitan has a 1 year low of $79.81 and a 1 year high of $131.33. The company has a market capitalization of $9.99 billion and a price-to-earnings ratio of -19.91.

Insider Transactions at ServiceTitan

In other news, Director William J.G. Griffith sold 90,917 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $109.99, for a total value of $9,999,960.83. Following the completion of the transaction, the director directly owned 483,635 shares of the company's stock, valued at approximately $53,195,013.65. This represents a 15.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bessemer Venture Partners Viii sold 370,557 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $117.79, for a total value of $43,647,909.03. Following the completion of the transaction, the insider directly owned 7,595,777 shares of the company's stock, valued at approximately $894,706,572.83. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,869,438 shares of company stock valued at $211,021,131. Corporate insiders own 51.72% of the company's stock.

Institutional Investors Weigh In On ServiceTitan

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Woodline Partners LP increased its holdings in ServiceTitan by 4.6% during the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company's stock valued at $204,000 after purchasing an additional 95 shares in the last quarter. Assetmark Inc. boosted its position in ServiceTitan by 47.2% in the 1st quarter. Assetmark Inc. now owns 960 shares of the company's stock valued at $91,000 after buying an additional 308 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in ServiceTitan in the 1st quarter valued at $31,000. Northwestern Mutual Wealth Management Co. boosted its position in ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock valued at $46,000 after buying an additional 392 shares during the last quarter. Finally, LRI Investments LLC bought a new position in ServiceTitan in the 1st quarter valued at $58,000.

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.