ServiceTitan Inc. (NASDAQ:TTAN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of ServiceTitan Inc. (NASDAQ:TTAN) have been given a consensus rating of “Moderate Buy” by the nineteen analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $110.5333.

Several equities research analysts have issued reports on TTAN shares. TD Cowen lifted their target price 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. The Goldman Sachs Group dropped their target price on shares of ServiceTitan from $117.00 to $84.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Citigroup reiterated a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. Truist Financial reiterated a “buy” rating and set a $110.00 target price (up from $100.00) on shares of ServiceTitan in a research report on Friday, June 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th.

ServiceTitan Price Performance

Shares of ServiceTitan stock opened at $64.23 on Monday. ServiceTitan has a 1 year low of $54.17 and a 1 year high of $119.99. The firm has a market cap of $6.13 billion, a PE ratio of -44.30 and a beta of 0.12. The company has a 50 day simple moving average of $64.29 and a two-hundred day simple moving average of $76.57.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The business had revenue of $268.82 million during the quarter, compared to analyst estimates of $257.40 million. During the same period in the previous year, the business posted $0.18 earnings per share. ServiceTitan’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, research analysts anticipate that ServiceTitan will post -0.54 earnings per share for the current year.

Insider Buying and Selling at ServiceTitan

In other ServiceTitan news, CFO David Sherry sold 20,192 shares of ServiceTitan stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $66.19, for a total transaction of $1,336,508.48. Following the transaction, the chief financial officer directly owned 398,033 shares of the company’s stock, valued at approximately $26,345,804.27. This trade represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Vahe Kuzoyan sold 3,208 shares of ServiceTitan stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $66.19, for a total transaction of $212,337.52. Following the transaction, the president directly owned 1 shares in the company, valued at $66.19. This trade represents a 99.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 46,732 shares of company stock valued at $3,086,391. 39.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TTAN. Vanguard Group Inc. raised its stake in shares of ServiceTitan by 538.4% during the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after acquiring an additional 3,735,968 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of ServiceTitan by 118.4% during the third quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after acquiring an additional 1,569,136 shares in the last quarter. Norges Bank purchased a new position in shares of ServiceTitan during the fourth quarter worth approximately $112,678,000. CIBC Bancorp USA Inc. purchased a new position in shares of ServiceTitan during the third quarter worth approximately $84,983,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of ServiceTitan during the fourth quarter worth approximately $89,702,000.

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.