ServiceTitan (NASDAQ:TTAN – Get Free Report) had its target price dropped by research analysts at BTIG Research from $105.00 to $90.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 44.12% from the company’s previous close.
TTAN has been the topic of a number of other research reports. Stifel Nicolaus dropped their price target on ServiceTitan from $145.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. TD Cowen raised their price target on ServiceTitan from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Canaccord Genuity Group cut their target price on ServiceTitan from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ServiceTitan in a research report on Friday, April 24th. Finally, Citigroup dropped their target price on shares of ServiceTitan from $117.00 to $88.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. Sixteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceTitan has an average rating of “Moderate Buy” and an average price target of $111.38.
Get Our Latest Research Report on TTAN
ServiceTitan Trading Down 0.1%
ServiceTitan (NASDAQ:TTAN – Get Free Report) last released its earnings results on Thursday, March 12th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $253.99 million during the quarter, compared to the consensus estimate of $245.47 million. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 earnings per share. Research analysts expect that ServiceTitan will post -0.62 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO David Sherry sold 17,778 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $1,241,971.08. Following the completion of the sale, the chief financial officer directly owned 313,025 shares of the company’s stock, valued at $21,867,926.50. The trade was a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Vahe Kuzoyan sold 3,220 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total value of $224,949.20. Following the completion of the sale, the president directly owned 1 shares of the company’s stock, valued at approximately $69.86. This trade represents a 99.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 33,440 shares of company stock valued at $2,281,468 in the last ninety days. Insiders own 39.89% of the company’s stock.
Institutional Investors Weigh In On ServiceTitan
Several large investors have recently modified their holdings of TTAN. Vanguard Group Inc. raised its holdings in 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. Truist Financial Corp raised its holdings in shares of ServiceTitan by 84.3% in the 3rd quarter. Truist Financial Corp now owns 42,789 shares of the company’s stock valued at $4,314,000 after purchasing an additional 19,577 shares during the period. Thornburg Investment Management Inc. bought a new stake in shares of ServiceTitan in the 3rd quarter valued at about $8,338,000. Sandhill Capital Partners LLC bought a new position in shares of ServiceTitan in the third quarter valued at about $27,062,000. Finally, Rakuten Investment Management Inc. bought a new position in shares of ServiceTitan in the third quarter valued at about $5,376,000.
ServiceTitan Company Profile
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.
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