Piper Sandler Reaffirms Overweight Rating for ServiceTitan (NASDAQ:TTAN)

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 note published on Friday,Benzinga reports. They currently have a $155.00 price objective on the stock.

Several other research firms have also recently weighed in on TTAN. Stifel Nicolaus lifted their price objective on ServiceTitan from $125.00 to $135.00 and gave the company a "buy" rating in a report on Friday, September 5th. KeyCorp set a $140.00 target price on ServiceTitan and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company lifted their target price on ServiceTitan from $125.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Loop Capital raised ServiceTitan from a "hold" rating to a "buy" rating and lifted their target price for the company from $100.00 to $140.00 in a research report on Monday, August 18th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $140.00 target price on shares of ServiceTitan in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, ServiceTitan currently has an average rating of "Moderate Buy" and an average target price of $132.67.

ServiceTitan Stock Down 1.4%

Shares of NASDAQ:TTAN traded down $1.68 during trading on Friday, hitting $115.48. 6,291,540 shares of the company's stock traded hands, compared to its average volume of 1,397,605. ServiceTitan has a 52 week low of $79.81 and a 52 week high of $131.33. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.07. The company has a market cap of $10.47 billion and a price-to-earnings ratio of -21.39. The company has a 50-day moving average price of $110.39 and a 200-day moving average price of $108.56.

Insider Activity

In other news, President Vahe Kuzoyan 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 transaction of $354,966.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ara Mahdessian sold 3,059 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $116.04, for a total value of $354,966.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,869,438 shares of company stock worth $211,021,131. 51.72% of the stock is owned by insiders.

Institutional Trading of ServiceTitan

A number of institutional investors have recently modified their holdings of TTAN. Harbor Investment Advisory LLC bought a new stake in shares of ServiceTitan during the 1st quarter worth $31,000. Northwestern Mutual Wealth Management Co. increased its holdings in ServiceTitan by 1,005.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock worth $46,000 after purchasing an additional 392 shares in the last quarter. LRI Investments LLC acquired a new position in ServiceTitan in the 1st quarter worth about $58,000. PNC Financial Services Group Inc. acquired a new position in ServiceTitan in the 2nd quarter worth about $79,000. Finally, EverSource Wealth Advisors LLC acquired a new position in ServiceTitan in the 2nd quarter worth about $94,000.

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.