Shares of ServiceTitan Inc. (NASDAQ:TTAN – Get Free Report) have been given an average rating of “Moderate Buy” by the seventeen ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $108.9286.
Several analysts have recently issued reports on TTAN shares. Citigroup reissued a “neutral” rating on shares of ServiceTitan in a research report on Monday, June 8th. Truist Financial reaffirmed a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of ServiceTitan in a report on Friday, June 5th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of ServiceTitan in a research note on Wednesday, June 17th. UBS Group reissued a “buy” rating on shares of ServiceTitan in a report on Wednesday, July 22nd. Finally, KeyCorp restated an “overweight” rating on shares of ServiceTitan in a research report on Monday, August 24th.
Check Out Our Latest Analysis on TTAN
ServiceTitan Stock Performance
ServiceTitan (NASDAQ:TTAN – Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $268.82 million for the quarter, compared to analysts’ expectations of $257.40 million. ServiceTitan had a negative return on equity of 5.59% and a negative net margin of 13.44%.The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. Equities analysts predict that ServiceTitan will post -0.54 EPS for the current year.
Insider Buying and Selling
In other ServiceTitan news, major shareholder Iconiq Strategic Partners V, L sold 94,415 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $63.43, for a total value of $5,988,743.45. Following the completion of the transaction, the insider owned 443,221 shares in the company, valued at $28,113,508.03. This trade represents a 17.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Vahe Kuzoyan sold 114,732 shares of ServiceTitan stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $88.84, for a total value of $10,192,790.88. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 524,837 shares of company stock valued at $39,894,622 in the last 90 days. Corporate insiders own 39.89% of the company’s stock.
Institutional Investors Weigh In On ServiceTitan
Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its position in shares of ServiceTitan by 7,065.5% in the second quarter. California State Teachers Retirement System now owns 4,537,461 shares of the company’s stock valued at $320,844,000 after acquiring an additional 4,474,137 shares during the period. Norges Bank bought a new stake in ServiceTitan during the 4th quarter worth approximately $112,678,000. Fuller & Thaler Asset Management Inc. bought a new stake in ServiceTitan during the 4th quarter worth approximately $89,702,000. Madison Asset Management LLC purchased a new stake in ServiceTitan in the 2nd quarter worth approximately $56,118,000. Finally, Atreides Management LP bought a new position in ServiceTitan in the 2nd quarter valued at $68,679,000.
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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