Wells Fargo & Company Issues Positive Forecast for ServiceTitan (NASDAQ:TTAN) Stock Price

Key Points

• Wells Fargo & Company has raised its target price for ServiceTitan (NASDAQ:TTAN) from $130.00 to $140.00, indicating a potential upside of 17.15% from the current stock price.
• The current consensus rating for ServiceTitan stock is "Moderate Buy," with one analyst giving a Strong Buy rating and the majority issuing Buy ratings.
• ServiceTitan has experienced recent insider trading, with significant sales of shares by major shareholders, including Bessemer Venture Partners, which sold over 7,000 shares.

ServiceTitan (NASDAQ:TTAN - Get Free Report) had its target price raised by stock analysts at Wells Fargo & Company from $130.00 to $140.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 17.15% from the stock's current price.

TTAN has been the topic of a number of other research reports. Needham & Company LLC reissued a "buy" rating and set a $140.00 price objective on shares of ServiceTitan in a report on Friday, September 5th. Truist Financial boosted their price objective on shares of ServiceTitan from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Piper Sandler restated an "overweight" rating and set a $155.00 target price on shares of ServiceTitan in a report on Friday. Morgan Stanley upped their price objective on shares of ServiceTitan from $109.00 to $118.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Finally, KeyCorp set a $140.00 target price on shares of ServiceTitan and gave the company an "overweight" rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $131.33.

ServiceTitan Price Performance

NASDAQ TTAN opened at $119.50 on Friday. The company has a market cap of $10.84 billion and a P/E ratio of -22.13. ServiceTitan has a 1 year low of $79.81 and a 1 year high of $131.33. The company has a fifty day simple moving average of $110.22 and a 200 day simple moving average of $108.26. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.07.

Insider Activity

In other news, major shareholder Bessemer Venture Partners Viii sold 7,039 shares of ServiceTitan stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $117.32, for a total transaction of $825,815.48. Following the completion of the sale, the insider owned 7,159,295 shares in the company, valued at approximately $839,928,489.40. This trade represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Michele O'connor sold 5,188 shares of ServiceTitan stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $116.05, for a total value of $602,067.40. Following the completion of the transaction, the chief accounting officer directly owned 93,748 shares in the company, valued at $10,879,455.40. This trade represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,869,438 shares of company stock worth $211,021,131. 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 the stock. Jane Street Group LLC bought a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $529,000. Bank of America Corp DE purchased a new position in ServiceTitan during the 4th quarter valued at $540,000. D. E. Shaw & Co. Inc. purchased a new position in ServiceTitan during the 4th quarter valued at $1,543,000. Millennium Management LLC purchased a new position in ServiceTitan during the 4th quarter valued at $11,111,000. Finally, Nuveen Asset Management LLC purchased a new stake in ServiceTitan in the fourth quarter worth about $7,793,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.