Stifel Nicolaus Issues Positive Forecast for ServiceTitan (NASDAQ:TTAN) Stock Price

Key Points

• Stifel Nicolaus has raised its price target for ServiceTitan (NASDAQ:TTAN) stock from $135.00 to $145.00, indicating a potential upside of 23.88%.
• As of now, analysts have assigned a consensus rating of "Moderate Buy" to ServiceTitan, with a consensus price target of $132.00.
• Recent insider trading has seen significant shares sold, with one director reducing their stake by 15.82% after selling nearly 91,000 shares.

ServiceTitan (NASDAQ:TTAN - Get Free Report) had its price target raised by analysts at Stifel Nicolaus from $135.00 to $145.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price objective points to a potential upside of 23.88% from the company's current price.

TTAN has been the subject of several other research reports. Wells Fargo & Company lifted their target price on shares of ServiceTitan from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday. Piper Sandler restated an "overweight" rating and issued a $155.00 target price on shares of ServiceTitan in a research report on Friday. Robert W. Baird boosted their price target on shares of ServiceTitan from $124.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Raymond James Financial initiated coverage on shares of ServiceTitan in a report on Friday, August 29th. They set a "market perform" rating for the company. Finally, Citigroup upped their price target on ServiceTitan from $111.00 to $123.00 and gave the company a "neutral" rating in a research report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, ServiceTitan presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.00.

ServiceTitan Stock Performance

TTAN traded down $0.11 on Friday, hitting $117.05. The company's stock had a trading volume of 196,355 shares, compared to its average volume of 799,507. ServiceTitan has a 12 month low of $79.81 and a 12 month high of $131.33. The company's 50 day simple moving average is $110.22 and its 200-day simple moving average is $108.26. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.07. The firm has a market cap of $10.61 billion and a P/E ratio of -21.68.

Insider Buying and Selling

In other ServiceTitan news, Director William J.G. Griffith sold 90,917 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 483,635 shares of the company's stock, valued at $53,195,013.65. This represents a 15.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Iconiq Strategic Partners V, L sold 52,082 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 $5,728,499.18. Following the transaction, the insider owned 648,606 shares of the company's stock, valued at $71,340,173.94. This trade represents a 7.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,869,438 shares of company stock worth $211,021,131. 51.72% of the stock is owned by insiders.

Institutional Trading of ServiceTitan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC acquired a new position in ServiceTitan during the first quarter worth about $31,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock worth $46,000 after purchasing an additional 392 shares during the last quarter. LRI Investments LLC acquired a new position in ServiceTitan during the first quarter worth $58,000. PNC Financial Services Group Inc. acquired a new position in ServiceTitan during the second quarter worth $79,000. 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 during the last quarter.

About ServiceTitan

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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