ServiceTitan (NASDAQ:TTAN) Shares Gap Up After Strong Earnings

ServiceTitan Inc. (NASDAQ:TTANGet Free Report) gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $82.34, but opened at $87.02. ServiceTitan shares last traded at $89.81, with a volume of 103,032 shares trading hands.

The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.09. The business had revenue of $209.30 million during the quarter, compared to the consensus estimate of $200.11 million. ServiceTitan’s quarterly revenue was up 29.4% compared to the same quarter last year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Robert W. Baird assumed coverage on shares of ServiceTitan in a research report on Friday, December 27th. They issued an “outperform” rating and a $117.00 price target on the stock. Canaccord Genuity Group assumed coverage on shares of ServiceTitan in a report on Monday, January 6th. They set a “buy” rating and a $120.00 target price on the stock. Stifel Nicolaus decreased their target price on shares of ServiceTitan from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Friday. Baird R W raised shares of ServiceTitan to a “strong-buy” rating in a report on Friday, December 27th. Finally, Wells Fargo & Company assumed coverage on shares of ServiceTitan in a report on Monday, January 6th. They set an “overweight” rating and a $125.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.33.

Check Out Our Latest Research Report on ServiceTitan

Hedge Funds Weigh In On ServiceTitan

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new position in ServiceTitan in the 4th quarter worth approximately $26,000. Assetmark Inc. purchased a new position in ServiceTitan in the 4th quarter worth approximately $67,000. FIL Ltd purchased a new position in ServiceTitan in the 4th quarter worth approximately $67,000. Tower Research Capital LLC TRC purchased a new position in ServiceTitan in the 4th quarter worth approximately $91,000. Finally, Insight Holdings Group LLC purchased a new position in ServiceTitan in the 4th quarter worth approximately $103,000.

ServiceTitan Trading Up 12.9 %

The company’s 50 day simple moving average is $97.14.

ServiceTitan Company Profile

(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.

Further Reading

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