TD Cowen Forecasts Strong Price Appreciation for ServiceTitan (NASDAQ:TTAN) Stock

ServiceTitan (NASDAQ:TTAN) had its price target upped by analysts at TD Cowen from $150.00 to $160.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 51.52% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of ServiceTitan in a report on Friday, September 5th. Truist Financial set a $130.00 price objective on shares of ServiceTitan in a research report on Tuesday, October 21st. Canaccord Genuity Group increased their target price on shares of ServiceTitan from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 19th. BMO Capital Markets raised their target price on shares of ServiceTitan from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Robert W. Baird lifted their price target on shares of ServiceTitan from $124.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ServiceTitan has an average rating of “Moderate Buy” and a consensus price target of $134.53.

ServiceTitan Stock Performance

Shares of NASDAQ:TTAN opened at $105.60 on Friday. The firm has a 50 day moving average of $94.44 and a 200 day moving average of $104.55. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $9.82 billion and a price-to-earnings ratio of -25.88. ServiceTitan has a 52 week low of $79.81 and a 52 week high of $131.33.

ServiceTitan (NASDAQ:TTAN) last announced its quarterly earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. The business had revenue of $249.16 million for the quarter, compared to the consensus estimate of $238.26 million. ServiceTitan had a negative return on equity of 11.03% and a negative net margin of 23.91%.The business’s revenue was up 25.0% compared to the same quarter last year. During the same period last year, the business posted $0.75 EPS. On average, sell-side analysts predict that ServiceTitan will post -1.98 earnings per share for the current fiscal year.

Insider Transactions at ServiceTitan

In related news, CEO Ara Mahdessian sold 46,542 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $91.40, for a total value of $4,253,938.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Vahe Kuzoyan sold 16,388 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $92.03, for a total transaction of $1,508,187.64. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,121,690 shares of company stock worth $126,740,332 in the last 90 days. 51.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On ServiceTitan

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in ServiceTitan by 538.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock worth $446,670,000 after buying an additional 3,735,968 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of ServiceTitan by 1,545.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,055,736 shares of the company’s stock worth $195,521,000 after acquiring an additional 1,930,779 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of ServiceTitan by 118.4% during the third quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock worth $291,798,000 after purchasing an additional 1,569,136 shares in the last quarter. Invesco Ltd. increased its position in shares of ServiceTitan by 1,388.2% during the second quarter. Invesco Ltd. now owns 1,477,369 shares of the company’s stock worth $158,344,000 after purchasing an additional 1,378,100 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in ServiceTitan by 148.4% in the 2nd quarter. Franklin Resources Inc. now owns 1,893,237 shares of the company’s stock valued at $202,917,000 after purchasing an additional 1,131,062 shares during the last quarter.

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.