Piper Sandler Forecasts Strong Price Appreciation for ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan (NASDAQ:TTANGet 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.

Get Our Latest Report on TTAN

ServiceTitan Trading Up 2.3%

NASDAQ:TTAN opened at $74.33 on Friday. ServiceTitan has a 12 month low of $54.17 and a 12 month high of $119.99. The company has a market cap of $7.08 billion, a PE ratio of -43.21 and a beta of 0.13. The company has a 50 day simple moving average of $62.95 and a two-hundred day simple moving average of $78.04.

ServiceTitan (NASDAQ:TTANGet 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:

About ServiceTitan

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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.

Further Reading

Analyst Recommendations for ServiceTitan (NASDAQ:TTAN)

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