ServiceTitan (NASDAQ:TTAN – Get Free Report) had its price target boosted by investment analysts at Piper Sandler from $100.00 to $115.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 54.72% from the stock’s previous close.
A number of other research analysts also recently weighed in on TTAN. Needham & Company LLC reissued a “buy” rating on shares of ServiceTitan in a report on Friday. Truist Financial set a $110.00 target price on ServiceTitan in a report on Friday. BTIG Research lowered their target price on ServiceTitan from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. BMO Capital Markets lowered their target price on ServiceTitan from $108.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 13th. Finally, Canaccord Genuity Group lowered 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. Fifteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $109.47.
ServiceTitan Trading Up 2.3%
ServiceTitan (NASDAQ:TTAN – Get Free Report) last posted its earnings results on Thursday, June 4th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. ServiceTitan had a negative return on equity of 6.86% and a negative net margin of 16.64%.The company had revenue of $268.82 million for the quarter, compared to the consensus estimate of $256.65 billion. During the same quarter in the prior year, the company earned $0.18 earnings per share. ServiceTitan’s revenue was up 24.6% on a year-over-year basis. Research analysts forecast that ServiceTitan will post -0.62 earnings per share for the current year.
Insider Activity
In related news, CAO Michele O’connor sold 5,154 shares of ServiceTitan stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $360,058.44. Following the transaction, the chief accounting officer owned 84,416 shares in the company, valued at approximately $5,897,301.76. The trade was a 5.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ara Mahdessian sold 2,288 shares of ServiceTitan stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $69.86, for a total transaction of $159,839.68. Following the transaction, the chief executive officer owned 1 shares in the company, valued at approximately $69.86. This trade represents a 99.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,440 shares of company stock worth $2,281,468 in the last quarter. Corporate insiders own 39.89% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of TTAN. Woodline Partners LP lifted its stake in shares of ServiceTitan by 4.6% during the 1st quarter. Woodline Partners LP now owns 2,141 shares of the company’s stock valued at $204,000 after buying an additional 95 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of ServiceTitan during the 2nd quarter valued at $345,000. Russell Investments Group Ltd. purchased a new position in shares of ServiceTitan during the 2nd quarter valued at $500,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of ServiceTitan by 1,005.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 392 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of ServiceTitan during the 2nd quarter valued at $393,000.
Key ServiceTitan News
Here are the key news stories impacting ServiceTitan this week:
- Positive Sentiment: ServiceTitan beat Q1 expectations, posting adjusted EPS of $0.37 versus the $0.28 consensus and revenue of $268.8 million, ahead of estimates, while revenue rose 24.6% year over year. ServiceTitan earnings report and conference call
- Positive Sentiment: The company lifted its fiscal second-quarter and full-year revenue guidance, signaling management confidence in continued demand and execution. ServiceTitan Announces Fiscal First Quarter Financial Results
- Positive Sentiment: Coverage highlighting post-earnings trading said TTAN surged in after-hours activity as investors focused on the strong quarter and raised outlook. TTAN Stock Surges 14% After-Hours As ServiceTitan Delivers Strong Quarter, Lifts Guidance
- Neutral Sentiment: Investors are also watching for AI-related growth commentary, but that appears to be a secondary theme versus the earnings and guidance update. ServiceTitan heads into earnings spotlight as investors look for fresh AI growth signals
- Negative Sentiment: Despite the beat, ServiceTitan still reported a net loss and negative margins, so profitability remains a risk factor for the stock. ServiceTitan stock and fundamentals
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.
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