ServiceTitan (NASDAQ:TTAN) Price Target Cut to $110.00 by Analysts at Piper Sandler

ServiceTitan (NASDAQ:TTAN) had its price objective reduced by Piper Sandler from $115.00 to $110.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 34.84% from the company’s previous close.

A number of other equities research analysts also recently weighed in on TTAN. BMO Capital Markets boosted their price target on ServiceTitan from $92.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Wells Fargo & Company restated an “overweight” rating on shares of ServiceTitan in a research report on Wednesday. TD Cowen boosted their price objective on shares of ServiceTitan from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, June 5th. UBS Group restated a “buy” rating on shares of ServiceTitan in a research note on Wednesday, July 22nd. Finally, Truist Financial reissued a “buy” rating and issued a $110.00 price target (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. Fourteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.33.

ServiceTitan Trading Down 7.2%

NASDAQ TTAN opened at $81.58 on Wednesday. The stock has a market cap of $7.78 billion, a P/E ratio of -56.26 and a beta of 0.11. The company’s fifty day simple moving average is $84.66 and its 200-day simple moving average is $72.69. ServiceTitan has a 52 week low of $54.17 and a 52 week high of $119.99.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The company had revenue of $292.76 million during the quarter, compared to the consensus estimate of $285.89 million. During the same period last year, the firm earned $0.33 earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. On average, research analysts expect that ServiceTitan will post -0.54 EPS for the current fiscal year.

Insider Activity at ServiceTitan

In related news, President Vahe Kuzoyan sold 114,732 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $88.84, for a total value of $10,192,790.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $63.43, for a total transaction of $5,988,743.45. Following the transaction, the insider directly owned 443,221 shares in the company, valued at approximately $28,113,508.03. The trade was a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 514,837 shares of company stock worth $39,203,222 in the last ninety days. 39.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceTitan

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its holdings in ServiceTitan by 7,065.5% during the second quarter. California State Teachers Retirement System now owns 4,537,461 shares of the company’s stock worth $320,844,000 after buying an additional 4,474,137 shares in the last quarter. Franklin Resources Inc. raised its position in shares of ServiceTitan by 33.8% during the fourth quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock worth $214,494,000 after purchasing an additional 508,848 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of ServiceTitan by 47.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock valued at $172,248,000 after purchasing an additional 519,024 shares during the last quarter. Greenoaks Capital Partners LLC boosted its position in shares of ServiceTitan by 20.6% in the 4th quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock valued at $165,315,000 after purchasing an additional 264,926 shares during the period. Finally, Capital International Investors boosted its position in shares of ServiceTitan by 23.9% in the 4th quarter. Capital International Investors now owns 1,224,699 shares of the company’s stock valued at $130,430,000 after purchasing an additional 236,287 shares during the period.

Trending Headlines about ServiceTitan

Here are the key news stories impacting ServiceTitan this week:

• Positive Sentiment: ServiceTitan reported fiscal Q2 adjusted earnings of $0.40 per share, above the roughly $0.35-$0.36 analyst consensus, while revenue of $292.76 million exceeded expectations near $285.9 million. Revenue increased 20.9% year over year, and earnings improved from $0.33 per share in the prior-year quarter. ServiceTitan Announces Fiscal Second Quarter Financial Results
• Positive Sentiment: The quarterly results suggest continued demand for ServiceTitan’s software platform for the trades, with revenue growth and profitability ahead of Wall Street expectations. ServiceTitan Q2 Earnings and Revenues Surpass Estimates
• Neutral Sentiment: ServiceTitan appointed company veteran Rikus Pretorius as its next chief revenue officer. Current CRO Ross Biestman will remain through the end of the fiscal year, making the transition orderly but adding uncertainty around the sales organization’s execution. ServiceTitan Names Rikus Pretorius Next Chief Revenue Officer
• Negative Sentiment: Fiscal Q3 revenue guidance of $285 million-$287 million came in slightly below the $287.8 million consensus estimate. The outlook, combined with the CRO transition, overshadowed the strong Q2 results and has led to a sharp decline in the stock. Why ServiceTitan Stock Is Diving After Earnings Beat
• Negative Sentiment: Management’s sales-leadership shakeup is raising investor concerns about growth execution, particularly because the company remains unprofitable on a GAAP basis and analysts expect a full-year loss. ServiceTitan Tumbles as Management Shakeup Overshadows Results

About ServiceTitan

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.