ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) saw an uptick in trading volume on Monday after Morgan Stanley raised their price target on the stock from $107.00 to $109.00. Morgan Stanley currently has an equal weight rating on the stock. 817,724 shares were traded during mid-day trading, an increase of 77% from the previous session's volume of 461,348 shares.The stock last traded at $102.69 and had previously closed at $106.60.
Several other equities analysts also recently issued reports on TTAN. TD Cowen assumed coverage on shares of ServiceTitan in a research note on Tuesday, April 8th. They set a "buy" rating and a $120.00 price objective on the stock. KeyCorp increased their price target on ServiceTitan from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Stifel Nicolaus lifted their price objective on ServiceTitan from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Piper Sandler reiterated an "overweight" rating and issued a $125.00 target price on shares of ServiceTitan in a research note on Friday, March 14th. Finally, Loop Capital decreased their target price on shares of ServiceTitan from $105.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ServiceTitan presently has a consensus rating of "Moderate Buy" and a consensus price target of $122.21.
Check Out Our Latest Research Report on TTAN
Insider Activity at ServiceTitan
In other ServiceTitan news, major shareholder Bessemer Venture Partners Viii sold 500,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $102.00, for a total value of $51,000,000.00. Following the completion of the transaction, the insider now directly owns 8,503,571 shares of the company's stock, valued at $867,364,242. This represents a 5.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Michele O'connor sold 5,494 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $520,007.10. Following the sale, the chief accounting officer now owns 89,302 shares of the company's stock, valued at approximately $8,452,434.30. This trade represents a 5.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 515,669 shares of company stock worth $52,483,071. 51.72% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. Deer Management Co. LLC acquired a new stake in shares of ServiceTitan during the 4th quarter valued at approximately $925,943,000. TPG GP A LLC bought a new stake in ServiceTitan during the fourth quarter valued at $525,405,000. Battery Management Corp. acquired a new stake in shares of ServiceTitan during the fourth quarter worth $496,599,000. Price T Rowe Associates Inc. MD bought a new position in shares of ServiceTitan in the 4th quarter worth about $233,937,000. Finally, Dragoneer Investment Group LLC bought a new position in shares of ServiceTitan in the 4th quarter worth about $210,777,000.
ServiceTitan Trading Down 0.6%
The firm's fifty day moving average price is $114.63.
ServiceTitan (NASDAQ:TTAN - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, topping 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. ServiceTitan's quarterly revenue was up 26.6% compared to the same quarter last year. Research analysts predict that ServiceTitan Inc. will post -1.98 EPS for the current year.
About ServiceTitan
(
Get Free Report)
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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