Needham & Company LLC Reaffirms “Buy” Rating for ServiceTitan (NASDAQ:TTAN)

ServiceTitan (NASDAQ:TTAN)‘s stock had its “buy” rating restated by Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They currently have a $125.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 27.77% from the stock’s current price.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of ServiceTitan in a research note on Monday, January 6th. They issued a “neutral” rating and a $100.00 target price on the stock. TD Cowen started coverage on ServiceTitan in a research report on Tuesday. They issued a “buy” rating and a $120.00 price objective on the stock. Canaccord Genuity Group 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. Citigroup raised their price target on ServiceTitan from $109.00 to $113.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, Truist Financial began coverage on ServiceTitan in a research report on Monday, January 6th. They set a “buy” rating and a $120.00 price target for the company. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.77.

ServiceTitan Price Performance

Shares of NASDAQ TTAN opened at $97.83 on Wednesday. ServiceTitan has a fifty-two week low of $79.81 and a fifty-two week high of $112.00. The company has a fifty day moving average of $94.90.

ServiceTitan (NASDAQ:TTAN) last posted its earnings results on Monday, January 13th. The company reported ($1.18) earnings per share for the quarter. As a group, equities research analysts predict that ServiceTitan will post -1.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Michele O’connor sold 5,494 shares of ServiceTitan stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $94.65, for a total value of $520,007.10. Following the transaction, the chief accounting officer now owns 89,302 shares in the company, valued at approximately $8,452,434.30. The trade was a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Sherry sold 10,175 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $94.65, for a total value of $963,063.75. Following the completion of the sale, the chief financial officer now directly owns 325,409 shares of the company’s stock, valued at approximately $30,799,961.85. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TTAN. Deer Management Co. LLC bought a new stake in ServiceTitan during the 4th quarter valued at $925,943,000. TPG GP A LLC purchased a new position in shares of ServiceTitan in the fourth quarter valued at about $525,405,000. Battery Management Corp. bought a new position in shares of ServiceTitan during the fourth quarter valued at about $496,599,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of ServiceTitan during the fourth quarter worth about $233,937,000. Finally, Dragoneer Investment Group LLC bought a new stake in shares of ServiceTitan in the fourth quarter worth about $210,777,000.

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.