ServiceTitan (NASDAQ:TTAN) Sees Strong Trading Volume After Analyst Upgrade

Shares of ServiceTitan Inc. (NASDAQ:TTAN - Get Free Report) saw unusually-strong trading volume on Monday after Loop Capital raised their price target on the stock from $90.00 to $100.00. Loop Capital currently has a hold rating on the stock. Approximately 817,724 shares changed hands during 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 research analysts have also recently commented on the stock. TD Cowen started coverage on shares of ServiceTitan in a research report on Tuesday, April 8th. They set a "buy" rating and a $120.00 price target on the stock. TD Securities increased their price objective on ServiceTitan from $120.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Stifel Nicolaus raised their price objective on ServiceTitan from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Robert W. Baird upped their price target on shares of ServiceTitan from $106.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, KeyCorp increased their price objective on shares of ServiceTitan from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $122.21.

Insider Transactions at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 10,175 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $963,063.75. Following the completion of the sale, the chief financial officer now directly owns 325,409 shares of the company's stock, valued at $30,799,961.85. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Michele O'connor sold 5,494 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $520,007.10. Following the transaction, the chief accounting officer now owns 89,302 shares of the company's stock, valued at $8,452,434.30. This represents a 5.80% decrease in their position. The disclosure for this sale can be found here. Company insiders own 51.72% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TTAN. SBI Securities Co. Ltd. bought a new position in shares of ServiceTitan in the 4th quarter worth $26,000. Harbor Investment Advisory LLC bought a new position in ServiceTitan during the 1st quarter valued at approximately $31,000. LRI Investments LLC purchased a new stake in ServiceTitan in the first quarter worth $58,000. Assetmark Inc. bought a new position in ServiceTitan in the fourth quarter worth about $67,000. Finally, FIL Ltd bought a new position in shares of ServiceTitan in the 4th quarter worth approximately $67,000.

ServiceTitan Price Performance

The company's 50 day moving average is $113.89.

ServiceTitan (NASDAQ:TTAN - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $215.69 million for the quarter, compared to analysts' expectations of $208.61 million. ServiceTitan's quarterly revenue was up 26.6% compared to the same quarter last year. On average, analysts forecast that ServiceTitan Inc. will post -1.98 earnings per share for the current year.

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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