ServiceTitan (NASDAQ:TTAN) Price Target Raised to $123.00 at Citigroup

Key Points

• Citigroup raised its target price for ServiceTitan (TTAN) from $111.00 to $123.00, suggesting a potential upside of 2.86% from the previous close.
• Multiple brokerages have issued positive ratings, with some giving price targets as high as $135.00, indicating strong investor interest.
• ServiceTitan's stock saw a trading increase to $119.58, with a market capitalization of $10.84 billion and a consensus rating of "Moderate Buy".

ServiceTitan (NASDAQ:TTAN - Get Free Report) had its target price upped by stock analysts at Citigroup from $111.00 to $123.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's price objective would suggest a potential upside of 2.86% from the company's previous close.

Several other brokerages also recently issued reports on TTAN. Cowen restated a "buy" rating on shares of ServiceTitan in a research report on Wednesday, May 21st. BMO Capital Markets assumed coverage on shares of ServiceTitan in a research note on Thursday, August 28th. They issued an "outperform" rating and a $129.00 target price for the company. Truist Financial boosted their target price on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company boosted their target price on shares of ServiceTitan from $125.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Stifel Nicolaus boosted their target price on shares of ServiceTitan from $125.00 to $135.00 and gave the company a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $130.67.

ServiceTitan Price Performance

Shares of ServiceTitan stock traded up $0.56 during trading on Tuesday, hitting $119.58. 575,722 shares of the company were exchanged, compared to its average volume of 761,722. ServiceTitan has a fifty-two week low of $79.81 and a fifty-two week high of $131.33. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average price of $109.20 and a 200 day moving average price of $107.22. The stock has a market capitalization of $10.84 billion and a price-to-earnings ratio of -22.14.

Insider Activity at ServiceTitan

In other news, CEO Ara Mahdessian sold 45,185 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $103.71, for a total transaction of $4,686,136.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bessemer Venture Partners Viii sold 125,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $105.87, for a total transaction of $13,233,750.00. Following the transaction, the insider directly owned 8,366,028 shares of the company's stock, valued at approximately $885,711,384.36. This represents a 1.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,046,850 shares of company stock worth $113,753,189. 51.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TTAN. TPG GP A LLC acquired a new position in shares of ServiceTitan during the 4th quarter valued at about $525,405,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of ServiceTitan by 1,545.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company's stock valued at $195,521,000 after acquiring an additional 1,930,779 shares during the last quarter. Invesco Ltd. increased its stake in shares of ServiceTitan by 1,388.2% during the 2nd quarter. Invesco Ltd. now owns 1,477,369 shares of the company's stock valued at $158,344,000 after acquiring an additional 1,378,100 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of ServiceTitan by 300,996.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,324,823 shares of the company's stock valued at $141,995,000 after acquiring an additional 1,324,383 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of ServiceTitan by 148.4% during the 2nd quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company's stock worth $202,917,000 after purchasing an additional 1,131,062 shares during the period.

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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