ServiceTitan Inc. (NASDAQ:TTAN) Stock Has Average Price Target of $96.38 According to Brokerages

Shares of ServiceTitan Inc. (NASDAQ:TTAN) have earned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $96.38.

Several research firms have recently weighed in on TTAN. Robert W. Baird lowered their price objective on shares of ServiceTitan from $101.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Needham & Company LLC reissued a “buy” rating on shares of ServiceTitan in a research note on Wednesday, October 7th. Weiss Ratings raised shares of ServiceTitan from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 29th. KeyCorp restated an “overweight” rating on shares of ServiceTitan in a report on Thursday, October 8th. Finally, Piper Sandler decreased their price target on shares of ServiceTitan from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th.

ServiceTitan Price Performance

NASDAQ TTAN opened at $80.71 on Friday. The stock has a market capitalization of $7.79 billion, a P/E ratio of -59.35 and a beta of 0.33. The business has a 50 day simple moving average of $76.28 and a 200 day simple moving average of $71.74. ServiceTitan has a one year low of $53.00 and a one year high of $111.36.

ServiceTitan (NASDAQ:TTAN) last issued its quarterly earnings results on Tuesday, September 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $292.76 million for the quarter, compared to analyst estimates of $285.89 million. ServiceTitan had a negative return on equity of 5.65% and a negative net margin of 12.12%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 earnings per share. Equities analysts expect that ServiceTitan will post -0.52 earnings per share for the current year.

Insider Activity at ServiceTitan

In related news, CAO Michele O’connor sold 5,581 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $57.07, for a total value of $318,507.67. Following the completion of the sale, the chief accounting officer directly owned 66,095 shares of the company’s stock, valued at $3,772,041.65. The trade was a 7.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO David Sherry sold 23,246 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $57.07, for a total value of $1,326,649.22. Following the transaction, the chief financial officer directly owned 363,511 shares in the company, valued at approximately $20,745,572.77. This trade represents a 6.01% 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. Insiders sold 268,814 shares of company stock worth $22,294,608 over the last quarter. Company insiders own 39.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in ServiceTitan by 98.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock valued at $35,000 after purchasing an additional 261 shares in the last quarter. State of Wyoming acquired a new position in ServiceTitan during the first quarter worth $48,000. Elevation Wealth Partners LLC raised its holdings in ServiceTitan by 20.0% during the second quarter. Elevation Wealth Partners LLC now owns 863 shares of the company’s stock worth $61,000 after buying an additional 144 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in ServiceTitan by 83.7% during the third quarter. Nisa Investment Advisors LLC now owns 1,139 shares of the company’s stock worth $75,000 after buying an additional 519 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of ServiceTitan by 75.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,586 shares of the company’s stock valued at $101,000 after buying an additional 680 shares in the last quarter.

ServiceTitan Company Profile

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

The company’s software supports core operations such as customer relationship management, marketing, scheduling, dispatching, estimates, invoicing, payments, inventory management, purchasing, payroll, and business reporting.