BMO Capital Markets Cuts ServiceTitan (NASDAQ:TTAN) Price Target to $108.00

ServiceTitan (NASDAQ:TTAN) had its target price reduced by BMO Capital Markets from $125.00 to $108.00 in a report released on Thursday morning, Marketbeat Ratings reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other equities research analysts have also recently commented on TTAN. Morgan Stanley raised their target price on shares of ServiceTitan from $118.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, December 5th. BTIG Research began coverage on shares of ServiceTitan in a report on Tuesday, December 16th. They issued a “buy” rating and a $130.00 price objective for the company. UBS Group reaffirmed a “buy” rating on shares of ServiceTitan in a research report on Monday, December 1st. KeyCorp reiterated an “overweight” rating on shares of ServiceTitan in a report on Tuesday, December 16th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ServiceTitan in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceTitan presently has an average rating of “Moderate Buy” and an average price target of $132.06.

ServiceTitan Price Performance

Shares of ServiceTitan stock opened at $82.95 on Thursday. The business has a 50 day moving average of $82.34 and a 200 day moving average of $94.45. ServiceTitan has a 52 week low of $58.01 and a 52 week high of $131.33. The company has a market cap of $7.77 billion, a PE ratio of -20.33 and a beta of -0.72. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.07.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.09. ServiceTitan had a negative net margin of 23.91% and a negative return on equity of 10.96%. The business had revenue of $249.16 million for the quarter, compared to analysts’ expectations of $238.26 million. During the same quarter in the previous year, the business posted $0.75 earnings per share. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceTitan will post -1.98 earnings per share for the current year.

Insider Buying and Selling at ServiceTitan

In other news, CEO Ara Mahdessian sold 32,000 shares of ServiceTitan stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $98.50, for a total transaction of $3,152,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Sherry sold 833 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $91.30, for a total value of $76,052.90. Following the completion of the sale, the chief financial officer directly owned 330,948 shares in the company, valued at approximately $30,215,552.40. This represents a 0.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 216,371 shares of company stock worth $22,700,994. Insiders own 51.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of ServiceTitan by 538.4% during the third quarter. Vanguard Group Inc. now owns 4,429,930 shares of the company’s stock valued at $446,670,000 after buying an additional 3,735,968 shares during the last quarter. Truist Financial Corp raised its holdings in ServiceTitan by 84.3% in the 3rd quarter. Truist Financial Corp now owns 42,789 shares of the company’s stock worth $4,314,000 after acquiring an additional 19,577 shares during the last quarter. Thornburg Investment Management Inc. bought a new position in ServiceTitan in the 3rd quarter valued at approximately $8,338,000. Rakuten Investment Management Inc. purchased a new stake in ServiceTitan during the 3rd quarter valued at $5,376,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of ServiceTitan in the 3rd quarter worth $941,000.

ServiceTitan Company Profile

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.