Stifel Nicolaus Forecasts Strong Price Appreciation for ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan (NASDAQ:TTAN) had its target price hoisted by stock analysts at Stifel Nicolaus from $125.00 to $135.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 18.43% from the stock’s current price.

TTAN has been the subject of several other reports. TD Securities lifted their price objective on ServiceTitan from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of ServiceTitan in a report on Friday. BMO Capital Markets assumed coverage on ServiceTitan in a report on Thursday, August 28th. They issued an “outperform” rating and a $129.00 price objective for the company. Raymond James Financial started coverage on ServiceTitan in a report on Friday, August 29th. They issued a “market perform” rating for the company. Finally, Cowen reiterated a “buy” rating on shares of ServiceTitan in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.00.

ServiceTitan Stock Performance

TTAN stock opened at $113.99 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. The business has a 50-day moving average price of $108.96 and a 200 day moving average price of $107.00. The company has a market capitalization of $10.34 billion and a P/E ratio of -21.11. ServiceTitan has a 1-year low of $79.81 and a 1-year high of $131.33.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $215.69 million during the quarter, compared to the consensus estimate of $208.61 million. ServiceTitan had a negative return on equity of 20.73% and a negative net margin of 26.08%.ServiceTitan’s revenue was up 26.6% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceTitan will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceTitan news, CEO Ara Mahdessian sold 45,185 shares of ServiceTitan stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $103.71, for a total value of $4,686,136.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Iconiq Strategic Partners V, L sold 52,082 shares of ServiceTitan stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $109.99, for a total value of $5,728,499.18. Following the completion of the transaction, the insider owned 648,606 shares in the company, valued at $71,340,173.94. This trade represents a 7.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,546,850 shares of company stock worth $164,753,189 over the last ninety days. 51.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ServiceTitan

A number of large investors have recently modified their holdings of TTAN. Barclays PLC purchased a new stake in shares of ServiceTitan during the fourth quarter worth about $267,000. Tower Research Capital LLC TRC purchased a new stake in shares of ServiceTitan during the fourth quarter worth about $91,000. Jane Street Group LLC purchased a new stake in shares of ServiceTitan during the fourth quarter worth about $529,000. Bank of America Corp DE purchased a new stake in shares of ServiceTitan during the fourth quarter worth about $540,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of ServiceTitan during the fourth quarter worth about $1,543,000.

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.