BMO Capital Markets Has Lowered Expectations for ServiceTitan (NASDAQ:TTAN) Stock Price

ServiceTitan (NASDAQ:TTAN) had its price target reduced by stock analysts at BMO Capital Markets from $125.00 to $108.00 in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 30.20% from the company’s current price.

TTAN has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 29th. UBS Group reissued a “buy” rating on shares of ServiceTitan in a research note on Monday, December 1st. Morgan Stanley increased their price target on shares of ServiceTitan from $118.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. Piper Sandler lowered their price objective on shares of ServiceTitan from $140.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of ServiceTitan in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ServiceTitan currently has an average rating of “Moderate Buy” and an average target price of $132.06.

ServiceTitan Price Performance

Shares of NASDAQ TTAN opened at $82.95 on Thursday. The stock’s 50-day simple moving average is $82.34 and its two-hundred day simple moving average is $94.51. ServiceTitan has a twelve month low of $58.01 and a twelve month high of $131.33. The firm has a market capitalization of $7.77 billion, a P/E ratio of -20.33 and a beta of -0.72. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07.

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

Insider Transactions at ServiceTitan

In other ServiceTitan news, President Vahe Kuzoyan sold 16,388 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $102.82, for a total transaction of $1,685,014.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michele O’connor sold 1,678 shares of ServiceTitan stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $105.30, for a total transaction of $176,693.40. Following the transaction, the chief accounting officer directly owned 89,571 shares in the company, valued at $9,431,826.30. This trade represents a 1.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 216,371 shares of company stock valued at $22,700,994. 51.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceTitan

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of ServiceTitan by 538.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after purchasing an additional 3,735,968 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in ServiceTitan by 118.4% in the third quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after purchasing an additional 1,569,136 shares during the last quarter. Invesco Ltd. lifted its stake in ServiceTitan by 1,388.2% in the second quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock worth $158,344,000 after purchasing an additional 1,378,100 shares during the last quarter. Franklin Resources Inc. boosted its position in ServiceTitan by 148.4% during the second quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock valued at $202,917,000 after buying an additional 1,131,062 shares during the period. Finally, Norges Bank bought a new position in shares of ServiceTitan during the fourth quarter valued at about $112,678,000.

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.