ServiceTitan Inc. (NASDAQ:TTAN) Receives $124.00 Consensus Price Target from Brokerages

Shares of ServiceTitan Inc. (NASDAQ:TTAN) have been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $124.00.

Several brokerages recently weighed in on TTAN. Robert W. Baird lifted their price objective on ServiceTitan from $106.00 to $124.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. KeyCorp set a $140.00 price objective on ServiceTitan and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Canaccord Genuity Group lifted their price objective on ServiceTitan from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. TD Cowen began coverage on ServiceTitan in a report on Tuesday, April 8th. They issued a “buy” rating and a $120.00 price objective for the company. Finally, Cowen reissued a “buy” rating on shares of ServiceTitan in a report on Wednesday, May 21st.

ServiceTitan Stock Down 0.3%

Shares of ServiceTitan stock opened at $116.94 on Friday. ServiceTitan has a 1 year low of $79.81 and a 1 year high of $131.33. The stock has a fifty day moving average price of $111.48 and a 200-day moving average price of $105.59. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN) last announced its earnings results on Thursday, June 5th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.06. The business had revenue of $215.69 million for the quarter, compared to analysts’ expectations of $208.61 million. The firm’s revenue was up 26.6% on a year-over-year basis. On average, analysts anticipate that ServiceTitan will post -1.98 earnings per share for the current year.

Insider Activity

In other news, major shareholder Iconiq Strategic Partners V, L sold 38,835 shares of ServiceTitan stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $109.99, for a total transaction of $4,271,461.65. Following the completion of the sale, the insider owned 483,635 shares in the company, valued at approximately $53,195,013.65. This trade represents a 7.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Bessemer Venture Partners Viii sold 8,706 shares of ServiceTitan stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $110.24, for a total value of $959,749.44. Following the sale, the insider owned 7,966,334 shares of the company’s stock, valued at approximately $878,208,660.16. This trade represents a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,412,338 shares of company stock worth $150,374,391. Company insiders own 51.72% of the company’s stock.

Institutional Trading of ServiceTitan

Large investors have recently modified their holdings of the business. Harbor Investment Advisory LLC bought a new stake in shares of ServiceTitan during the 1st quarter valued at about $31,000. LRI Investments LLC bought a new stake in ServiceTitan in the 1st quarter worth approximately $58,000. FIL Ltd bought a new stake in ServiceTitan in the 4th quarter worth approximately $67,000. Tower Research Capital LLC TRC bought a new stake in ServiceTitan in the 4th quarter worth approximately $91,000. Finally, Assetmark Inc. lifted its position in ServiceTitan by 47.2% in the 1st quarter. Assetmark Inc. now owns 960 shares of the company’s stock worth $91,000 after buying an additional 308 shares during the last quarter.

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.