ServiceTitan (NASDAQ:TTAN) Price Target Raised to $140.00

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 boosted by analysts at Wells Fargo & Company from $130.00 to $140.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 30.23% from the stock's previous close.

Several other equities analysts have also commented on TTAN. BMO Capital Markets initiated coverage on ServiceTitan in a research note on Thursday, August 28th. They issued an "outperform" rating and a $129.00 price target on the stock. Loop Capital upgraded shares of ServiceTitan from a "hold" rating to a "buy" rating and lifted their price target for the company from $100.00 to $140.00 in a research report on Monday, August 18th. Truist Financial lifted their price target on shares of ServiceTitan from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Raymond James Financial initiated coverage on shares of ServiceTitan in a research report on Friday, August 29th. They set a "market perform" rating for the company. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $155.00 price objective on shares of ServiceTitan in a research report on Friday. One equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $132.67.

ServiceTitan Trading Down 3.0%

ServiceTitan stock traded down $3.28 during mid-day trading on Friday, hitting $107.50. The company's stock had a trading volume of 594,141 shares, compared to its average volume of 837,580. The firm has a market capitalization of $9.99 billion and a PE ratio of -19.91. ServiceTitan has a 1 year low of $79.81 and a 1 year high of $131.33. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.07. The stock's fifty day moving average is $110.44 and its two-hundred day moving average is $108.85.

Insider Buying and Selling at ServiceTitan

In related news, Director William J.G. Griffith sold 90,917 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $109.99, for a total value of $9,999,960.83. Following the sale, the director owned 483,635 shares in the company, valued at $53,195,013.65. This represents a 15.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Bessemer Venture Partners Viii sold 370,557 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $117.79, for a total value of $43,647,909.03. Following the sale, the insider owned 7,595,777 shares in the company, valued at approximately $894,706,572.83. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,869,438 shares of company stock valued at $211,021,131. Corporate insiders own 51.72% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Investment Advisory LLC acquired a new position in shares of ServiceTitan during the 1st quarter worth $31,000. Northwestern Mutual Wealth Management Co. increased its holdings in ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company's stock valued at $46,000 after acquiring an additional 392 shares in the last quarter. LRI Investments LLC purchased a new position in ServiceTitan during the 1st quarter valued at about $58,000. PNC Financial Services Group Inc. purchased a new position in ServiceTitan during the 2nd quarter valued at about $79,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of ServiceTitan in the second quarter valued at approximately $94,000.

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.