ServiceTitan (NASDAQ:TTAN) Shares Gap Up on Analyst Upgrade

ServiceTitan Inc. (NASDAQ:TTAN)’s stock price gapped up before the market opened on Friday after Morgan Stanley raised their price target on the stock from $104.00 to $107.00. The stock had previously closed at $82.34, but opened at $87.02. Morgan Stanley currently has an equal weight rating on the stock. ServiceTitan shares last traded at $89.81, with a volume of 103,032 shares trading hands.

TTAN has been the subject of several other reports. William Blair initiated coverage on ServiceTitan in a research report on Monday, January 6th. They set an “outperform” rating for the company. Piper Sandler initiated coverage on ServiceTitan in a research report on Monday, January 6th. They set an “overweight” rating and a $125.00 target price for the company. The Goldman Sachs Group initiated coverage on ServiceTitan in a research report on Monday, January 6th. They set a “neutral” rating and a $100.00 target price for the company. Truist Financial initiated coverage on ServiceTitan in a research report on Monday, January 6th. They set a “buy” rating and a $120.00 target price for the company. Finally, Loop Capital initiated coverage on ServiceTitan in a research report on Monday, January 6th. They set a “hold” rating and a $105.00 target price for the company. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.33.

Institutional Investors Weigh In On ServiceTitan

Several institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in ServiceTitan during the 4th quarter valued at about $26,000. Assetmark Inc. purchased a new stake in ServiceTitan during the 4th quarter valued at about $67,000. FIL Ltd purchased a new stake in ServiceTitan during the 4th quarter valued at about $67,000. Tower Research Capital LLC TRC purchased a new stake in ServiceTitan during the 4th quarter valued at about $91,000. Finally, Insight Holdings Group LLC purchased a new stake in ServiceTitan during the 4th quarter valued at about $103,000.

ServiceTitan Price Performance

The stock’s fifty day moving average price is $97.14.

ServiceTitan (NASDAQ:TTAN) last released its quarterly earnings results on Monday, January 13th. The company reported ($1.18) EPS for the quarter. On average, analysts forecast that ServiceTitan Inc. will post -1.98 EPS for the current year.

About ServiceTitan

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.