ServiceTitan (NASDAQ:TTAN) Stock Rating Upgraded by BTIG Research

by · The Cerbat Gem

ServiceTitan (NASDAQ:TTAN – Get Free Report) was upgraded by stock analysts at BTIG Research to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group boosted their price target on ServiceTitan from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Morgan Stanley raised their price objective on shares of ServiceTitan from $118.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. Cowen restated a “buy” rating on shares of ServiceTitan in a research report on Friday, December 5th. Raymond James Financial began coverage on shares of ServiceTitan in a report on Friday, August 29th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company lifted their price target on shares of ServiceTitan from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.25.

Check Out Our Latest Analysis on ServiceTitan

ServiceTitan Stock Performance

NASDAQ:TTAN traded up $1.64 during trading hours on Tuesday, reaching $107.53. The company had a trading volume of 113,389 shares, compared to its average volume of 865,878. The firm has a market cap of $9.99 billion and a price-to-earnings ratio of -26.36. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average price is $95.19 and its 200-day moving average price is $103.80. ServiceTitan has a 52 week low of $79.81 and a 52 week high of $131.33.

ServiceTitan (NASDAQ:TTAN – Get Free Report) last released its quarterly earnings results on Thursday, December 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.09. ServiceTitan had a negative return on equity of 10.96% and a negative net margin of 23.91%.The firm had revenue of $249.16 million for the quarter, compared to the consensus estimate of $238.26 million. During the same period last year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, analysts forecast that ServiceTitan will post -1.98 EPS for the current year.

Insider Transactions at ServiceTitan

In other news, CFO David Sherry sold 833 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $86.20, for a total transaction of $71,804.60. Following the sale, the chief financial officer directly owned 345,952 shares in the company, valued at $29,821,062.40. This trade represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ara Mahdessian sold 42,666 shares of ServiceTitan stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $106.85, for a total transaction of $4,558,862.10. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 439,178 shares of company stock valued at $44,448,550 over the last three months. Corporate insiders own 51.72% of the company’s stock.

Institutional Trading of ServiceTitan

Several hedge funds have recently bought and sold shares of the stock. Cloud Capital Management LLC purchased a new position in shares of ServiceTitan in the 3rd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. lifted its position in ServiceTitan by 1,005.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after buying an additional 392 shares during the last quarter. Whittier Trust Co. purchased a new position in ServiceTitan during the third quarter worth $52,000. Parallel Advisors LLC increased its position in ServiceTitan by 161.7% during the third quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock valued at $53,000 after acquiring an additional 325 shares during the last quarter. Finally, PNC Financial Services Group Inc. bought a new position in ServiceTitan during the second quarter valued at $79,000.

About ServiceTitan

(Get Free Report)

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.

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