ServiceTitan (NASDAQ:TTAN) Hits New 52-Week High – Time to Buy?

ServiceTitan Inc. (NASDAQ:TTAN) shares reached a new 52-week high on Monday . The company traded as high as $128.58 and last traded at $124.49, with a volume of 126384 shares changing hands. The stock had previously closed at $124.22.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $125.00 price target on shares of ServiceTitan in a research report on Friday, March 14th. Stifel Nicolaus dropped their price target on shares of ServiceTitan from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. TD Cowen assumed coverage on shares of ServiceTitan in a research report on Tuesday, April 8th. They set a “buy” rating and a $120.00 target price for the company. Loop Capital dropped their price objective on ServiceTitan from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, March 14th. Finally, Needham & Company LLC upped their price objective on ServiceTitan from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ServiceTitan presently has an average rating of “Moderate Buy” and an average target price of $118.23.

ServiceTitan Price Performance

The business’s 50 day simple moving average is $102.92.

Insider Buying and Selling

In other ServiceTitan news, CFO David Sherry sold 10,175 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $963,063.75. Following the completion of the sale, the chief financial officer now directly owns 325,409 shares in the company, valued at $30,799,961.85. This trade represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Michele O’connor sold 5,494 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total transaction of $520,007.10. Following the completion of the sale, the chief accounting officer now owns 89,302 shares of the company’s stock, valued at $8,452,434.30. This trade represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Trading of ServiceTitan

Several institutional investors and hedge funds have recently bought and sold shares of TTAN. SBI Securities Co. Ltd. bought a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC bought a new stake in shares of ServiceTitan during the first quarter valued at approximately $31,000. LRI Investments LLC bought a new stake in shares of ServiceTitan during the first quarter valued at approximately $58,000. Assetmark Inc. bought a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $67,000. Finally, FIL Ltd bought a new stake in shares of ServiceTitan during the fourth quarter valued at approximately $67,000.

About ServiceTitan

ServiceTitan, Inc engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.