ServiceTitan (NASDAQ:TTAN) Given New $101.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised ServiceTitan’s price target to $101 from $94 while maintaining an “outperform” rating, implying 14.27% upside from the reported $88.39 share price.
• Analyst sentiment remains favorable, with 15 Buy ratings, three Holds and one Sell; the consensus is “Moderate Buy” with an average target of $111.
• ServiceTitan beat quarterly expectations, reporting $0.37 EPS versus $0.28 expected and $268.82 million in revenue, up 24.6% year over year. However, insiders sold $27.4 million of stock over the past 90 days.

ServiceTitan (NASDAQ:TTAN - Get Free Report) had its price target increased by analysts at Robert W. Baird from $94.00 to $101.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's target price would indicate a potential upside of 14.27% from the company's current price.

A number of other research analysts have also commented on the stock. Stifel Nicolaus set a $125.00 price target on shares of ServiceTitan in a research note on Wednesday, May 27th. BTIG Research reissued a "buy" rating and set a $110.00 target price on shares of ServiceTitan in a report on Friday, July 10th. Citigroup restated a "neutral" rating on shares of ServiceTitan in a research note on Monday, June 8th. Needham & Company LLC reissued a "buy" rating and issued a $100.00 price objective on shares of ServiceTitan in a report on Wednesday, June 17th. Finally, UBS Group reiterated a "buy" rating on shares of ServiceTitan in a research note on Wednesday, July 22nd. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $111.00.

ServiceTitan Stock Performance

Shares of TTAN stock opened at $88.39 on Wednesday. ServiceTitan has a 52-week low of $54.17 and a 52-week high of $119.99. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of -60.96 and a beta of 0.02. The firm's 50-day moving average is $74.89 and its 200-day moving average is $69.85.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last released its quarterly earnings data 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. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The firm had revenue of $268.82 million for the quarter, compared to analyst estimates of $257.40 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The business's revenue for the quarter was up 24.6% compared to the same quarter last year. Sell-side analysts predict that ServiceTitan will post -0.54 EPS for the current fiscal year.

Insider Activity at ServiceTitan

In related news, CAO Michele O'connor sold 4,910 shares of the business's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $80.93, for a total transaction of $397,366.30. Following the sale, the chief accounting officer owned 71,676 shares in the company, valued at $5,800,738.68. The trade was a 6.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of ServiceTitan stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total value of $5,988,743.45. Following the sale, the insider directly owned 443,221 shares in the company, valued at $28,113,508.03. The trade was a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 384,717 shares of company stock worth $27,426,649 in the last ninety days. Insiders own 39.89% of the company's stock.

Institutional Investors Weigh In On ServiceTitan

A number of institutional investors have recently added to or reduced their stakes in TTAN. Woodline Partners LP increased its stake in shares of ServiceTitan by 4.6% in the first quarter. Woodline Partners LP now owns 2,141 shares of the company's stock valued at $204,000 after buying an additional 95 shares during the period. Cetera Investment Advisers acquired a new stake in shares of ServiceTitan during the second quarter worth $345,000. Russell Investments Group Ltd. bought a new position in ServiceTitan during the second quarter worth $500,000. Northwestern Mutual Wealth Management Co. raised its stake in ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock worth $46,000 after buying an additional 392 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in ServiceTitan during the second quarter valued at $393,000.

About ServiceTitan

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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