ServiceTitan Inc. (NASDAQ:TTAN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of ServiceTitan Inc. (NASDAQ:TTAN) have been given an average recommendation of “Moderate Buy” by the nineteen research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $132.0625.

Several equities analysts recently commented on the company. Piper Sandler reduced their target price on ServiceTitan from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. UBS Group reiterated a “buy” rating on shares of ServiceTitan in a research report on Monday, December 1st. BTIG Research assumed coverage on ServiceTitan in a report on Tuesday, December 16th. They set a “buy” rating and a $130.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of ServiceTitan from $140.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of ServiceTitan in a research note on Tuesday, December 16th.

ServiceTitan Trading Up 6.0%

Shares of ServiceTitan stock opened at $82.95 on Friday. The stock has a market capitalization of $7.77 billion, a P/E ratio of -20.33 and a beta of -0.72. ServiceTitan has a 52-week low of $58.01 and a 52-week high of $131.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.14 and a current ratio of 4.14. The stock’s 50-day simple moving average is $82.34 and its 200 day simple moving average is $94.51.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings data on Thursday, December 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $238.26 million. During the same period in the previous year, the business earned $0.75 EPS. ServiceTitan’s revenue was up 25.0% compared to the same quarter last year. As a group, research analysts anticipate that ServiceTitan will post -1.98 EPS for the current year.

Insider Buying and Selling at ServiceTitan

In related news, CEO Ara Mahdessian sold 88,525 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $107.56, for a total transaction of $9,521,749.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Vahe Kuzoyan sold 16,388 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $102.82, for a total value of $1,685,014.16. The disclosure for this sale is available in the SEC filing. Insiders have sold 216,371 shares of company stock valued at $22,700,994 over the last ninety days. Insiders own 51.72% of the company’s stock.

Institutional Investors Weigh In On ServiceTitan

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of ServiceTitan by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 4,869,009 shares of the company’s stock worth $518,549,000 after purchasing an additional 439,079 shares during the last quarter. JPMorgan Chase & Co. increased its stake in ServiceTitan by 118.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,893,959 shares of the company’s stock valued at $291,798,000 after purchasing an additional 1,569,136 shares in the last quarter. Franklin Resources Inc. increased its stake in ServiceTitan by 33.8% during the 4th quarter. Franklin Resources Inc. now owns 2,014,025 shares of the company’s stock valued at $214,494,000 after purchasing an additional 508,848 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in ServiceTitan by 47.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,617,353 shares of the company’s stock valued at $172,248,000 after purchasing an additional 519,024 shares in the last quarter. Finally, Greenoaks Capital Partners LLC raised its holdings in ServiceTitan by 20.6% in the fourth quarter. Greenoaks Capital Partners LLC now owns 1,552,257 shares of the company’s stock worth $165,315,000 after buying an additional 264,926 shares during the last quarter.

About ServiceTitan

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.