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

ServiceTitan (NASDAQ:TTAN - Get Free Report)'s stock had its "overweight" rating reissued by stock analysts at Piper Sandler in a report released on Tuesday,Benzinga reports. They presently have a $150.00 price target on the stock, up from their prior price target of $125.00. Piper Sandler's target price indicates a potential upside of 27.84% from the stock's current price.

A number of other research firms also recently issued reports on TTAN. Needham & Company LLC reiterated a "buy" rating and set a $140.00 price objective on shares of ServiceTitan in a research note on Friday, June 6th. KeyCorp set a $140.00 price objective on shares of ServiceTitan and gave the company an "overweight" rating in a report on Wednesday, July 16th. Stifel Nicolaus boosted their target price on shares of ServiceTitan from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Loop Capital reiterated a "hold" rating and issued a $100.00 price objective (up previously from $90.00) on shares of ServiceTitan in a research report on Friday, June 6th. Finally, TD Securities upped their price target on shares of ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $124.00.

ServiceTitan Stock Performance

Shares of TTAN traded up $0.02 during midday trading on Tuesday, hitting $117.33. 135,465 shares of the company traded hands, compared to its average volume of 725,240. The firm has a 50 day moving average of $111.72 and a 200-day moving average of $105.40. ServiceTitan has a 52 week low of $79.81 and a 52 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.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The business had revenue of $215.69 million during the quarter, compared to the consensus estimate of $208.61 million. The firm's revenue for the quarter was up 26.6% on a year-over-year basis. As a group, sell-side analysts forecast that ServiceTitan will post -1.98 EPS for the current fiscal year.

Insider Activity at ServiceTitan

In other ServiceTitan news, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $102.00, for a total transaction of $51,000,000.00. Following the completion of the sale, the insider directly owned 8,503,571 shares in the company, valued at $867,364,242. The trade was a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J.G. Griffith sold 90,917 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $109.99, for a total transaction of $9,999,960.83. Following the transaction, the director owned 483,635 shares in the company, valued at $53,195,013.65. This trade represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,412,338 shares of company stock worth $150,374,391. 51.72% of the stock is currently owned by company insiders.

Institutional Trading of ServiceTitan

Institutional investors have recently made changes to their positions in the stock. Harbor Investment Advisory LLC bought a new position in shares of ServiceTitan in the first quarter valued at approximately $31,000. LRI Investments LLC bought a new stake in shares of ServiceTitan in the 1st quarter worth approximately $58,000. FIL Ltd acquired a new stake in ServiceTitan during the fourth quarter worth $67,000. Tower Research Capital LLC TRC acquired a new stake in ServiceTitan during the fourth quarter worth $91,000. Finally, Assetmark Inc. boosted its stake in ServiceTitan by 47.2% during the first quarter. Assetmark Inc. now owns 960 shares of the company's stock worth $91,000 after buying an additional 308 shares in the last quarter.

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.