Piper Sandler Reaffirms Overweight Rating for ServiceTitan (NASDAQ:TTAN)

ServiceTitan (NASDAQ:TTAN)‘s stock had its “overweight” rating reiterated by Piper Sandler in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $155.00 target price on the stock. Piper Sandler’s price objective suggests a potential upside of 34.22% from the company’s current price.

TTAN has been the subject of several other research reports. BMO Capital Markets started coverage on shares of ServiceTitan in a research note on Thursday, August 28th. They issued an “outperform” rating and a $129.00 price objective for the company. KeyCorp set a $140.00 price objective on shares of ServiceTitan and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Stifel Nicolaus lifted their price objective on shares of ServiceTitan from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Robert W. Baird lifted their price target on shares of ServiceTitan from $124.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Finally, Loop Capital raised shares of ServiceTitan from a “hold” rating to a “buy” rating and lifted their price target for the company from $100.00 to $140.00 in a research report on Monday, August 18th. One equities research 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.67.

ServiceTitan Stock Performance

NASDAQ:TTAN opened at $115.48 on Friday. The company has a fifty day moving average of $110.39 and a 200-day moving average of $108.56. The firm has a market capitalization of $10.47 billion and a P/E ratio of -21.39. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.07. ServiceTitan has a twelve month low of $79.81 and a twelve month high of $131.33.

Insider Buying and Selling

In related news, major shareholder Iconiq Strategic Partners V, L sold 52,082 shares of the business’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $109.99, for a total value of $5,728,499.18. Following the sale, the insider directly owned 648,606 shares in the company, valued at approximately $71,340,173.94. The trade was a 7.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William J.G. Griffith sold 90,917 shares of the business’s stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $109.99, for a total value of $9,999,960.83. Following the completion of the sale, the director owned 483,635 shares in the company, valued at $53,195,013.65. This represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,869,438 shares of company stock valued at $211,021,131. 51.72% of the stock is owned by insiders.

Institutional Investors Weigh In On ServiceTitan

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in shares of ServiceTitan during the fourth quarter valued at about $529,000. Comerica Bank grew its holdings in shares of ServiceTitan by 92,500.0% during the first quarter. Comerica Bank now owns 2,778 shares of the company’s stock worth $264,000 after purchasing an additional 2,775 shares in the last quarter. Bank of America Corp DE purchased a new stake in ServiceTitan in the fourth quarter worth approximately $540,000. Nuveen Asset Management LLC purchased a new stake in ServiceTitan in the fourth quarter worth approximately $7,793,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in ServiceTitan in the fourth quarter worth approximately $1,543,000.

ServiceTitan Company Profile

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.