ServiceTitan’s (TTAN) Buy Rating Reiterated at TD Cowen

TD Cowen reaffirmed their buy rating on shares of ServiceTitan (NASDAQ:TTAN) in a research note released on Friday morning,Benzinga reports. The firm currently has a $100.00 target price on the stock.

A number of other research firms have also recently issued reports on TTAN. Evercore set a $90.00 price objective on shares of ServiceTitan in a research report on Wednesday, September 9th. Weiss Ratings downgraded ServiceTitan from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 9th. Wells Fargo & Company cut their price target on ServiceTitan from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. KeyCorp reduced their price objective on ServiceTitan from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Finally, Truist Financial restated a “buy” rating and set a $100.00 price objective (down from $110.00) on shares of ServiceTitan in a report on Wednesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.38.

ServiceTitan Price Performance

Shares of TTAN stock opened at $58.05 on Friday. The firm has a 50 day moving average of $79.42 and a 200-day moving average of $71.35. The company has a market cap of $5.60 billion, a price-to-earnings ratio of -42.68 and a beta of 0.11. ServiceTitan has a 52 week low of $53.00 and a 52 week high of $111.36.

ServiceTitan (NASDAQ:TTAN) last released its earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. ServiceTitan had a negative net margin of 12.12% and a negative return on equity of 5.65%. The company had revenue of $292.76 million for the quarter, compared to the consensus estimate of $285.89 million. During the same quarter in the previous year, the company earned $0.33 EPS. ServiceTitan’s quarterly revenue was up 20.9% compared to the same quarter last year. Analysts anticipate that ServiceTitan will post -0.53 earnings per share for the current year.

Insider Buying and Selling at ServiceTitan

In related news, CEO Ara Mahdessian sold 3,148 shares of the firm’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $57.07, for a total value of $179,656.36. Following the transaction, the chief executive officer owned 2 shares of the company’s stock, valued at approximately $114.14. This trade represents a 99.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Michele O’connor sold 4,380 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $61.35, for a total transaction of $268,713.00. Following the completion of the transaction, the chief accounting officer directly owned 61,715 shares in the company, valued at approximately $3,786,215.25. The trade was a 6.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 324,533 shares of company stock worth $26,813,042. 39.89% of the stock is currently owned by insiders.

Institutional Trading of ServiceTitan

Institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC boosted its position in shares of ServiceTitan by 598.9% during the second quarter. Tidal Investments LLC now owns 27,963 shares of the company’s stock valued at $1,977,000 after buying an additional 23,962 shares during the last quarter. Whetstone Capital Advisors LLC bought a new stake in ServiceTitan during the second quarter worth $3,275,000. WINTON GROUP Ltd purchased a new stake in ServiceTitan in the 2nd quarter valued at $5,218,000. Integrated Wealth Concepts LLC purchased a new stake in ServiceTitan in the 2nd quarter valued at $115,000. Finally, NewEdge Advisors LLC lifted its stake in ServiceTitan by 7,677.2% during the 2nd quarter. NewEdge Advisors LLC now owns 8,866 shares of the company’s stock valued at $627,000 after acquiring an additional 8,752 shares in the last quarter.

ServiceTitan Company Profile

ServiceTitan, Inc develops cloud-based software designed to help residential and commercial contractors manage and grow their businesses. Its platform supports trades such as heating, ventilation and air conditioning, plumbing, electrical, roofing, and other field-service industries.

The company’s products and services cover key business functions, including customer relationship management, lead generation, scheduling and dispatching, estimates, job management, invoicing, payments, financing, payroll, and business analytics.