ServiceTitan (NASDAQ:TTAN) Upgraded to “Strong-Buy” at BTIG Research

ServiceTitan (NASDAQ:TTAN) was upgraded by BTIG Research to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a research report on Tuesday. Wells Fargo & Company increased their price target on ServiceTitan from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Truist Financial set a $130.00 price objective on ServiceTitan in a research note on Tuesday, October 21st. Robert W. Baird lifted their price target on ServiceTitan from $124.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Finally, UBS Group reissued a “buy” rating on shares of ServiceTitan in a report on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.25.

ServiceTitan Price Performance

TTAN stock traded up $0.79 during trading on Tuesday, hitting $106.68. The stock had a trading volume of 84,041 shares, compared to its average volume of 865,533. ServiceTitan has a twelve month low of $79.81 and a twelve month high of $131.33. The company’s 50-day moving average price is $95.19 and its two-hundred day moving average price is $103.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.14 and a quick ratio of 4.14. The stock has a market capitalization of $9.92 billion and a P/E ratio of -26.15.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results on Thursday, December 4th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The business had revenue of $249.16 million during the quarter, compared to analysts’ expectations of $238.26 million. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The business’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share. As a group, research analysts predict that ServiceTitan will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, President Vahe Kuzoyan sold 16,690 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $104.81, for a total transaction of $1,749,278.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ara Mahdessian sold 88,525 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total transaction of $9,521,749.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 439,178 shares of company stock valued at $44,448,550 over the last 90 days. 51.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Woodline Partners LP lifted its position in shares of ServiceTitan by 4.6% during the first quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock worth $204,000 after purchasing an additional 95 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in ServiceTitan by 16.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 858 shares of the company’s stock worth $87,000 after buying an additional 119 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in ServiceTitan in the 3rd quarter valued at about $25,000. Parallel Advisors LLC boosted its position in shares of ServiceTitan by 161.7% during the 3rd quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock worth $53,000 after acquiring an additional 325 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position 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 acquiring an additional 392 shares in the last quarter.

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.