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Investing.com - BMO Capital initiated coverage on ServiceTitan (NASDAQ:TTAN) with an Outperform rating and a price target of $129.00 on Thursday. According to InvestingPro data, analysts maintain a strong bullish consensus on the stock, with price targets ranging from $109 to $150, suggesting potential upside from current levels.
The firm cited ServiceTitan’s business operations and field service software platform, which is designed to help run diverse trades businesses ranging from HVAC to plumbing and other sectors. The company’s business model has demonstrated strong execution, with revenue growing 28% year-over-year and maintaining a healthy gross margin of 66%.
BMO Capital identified a multi-faceted growth opportunity for ServiceTitan to expand wallet share with existing customers while adding new trades and customers, despite broader concerns in application software driven by macroeconomic volatility and artificial intelligence.
The firm noted that ServiceTitan’s growth potential is supported by secular trends in the trades industry.
BMO Capital also pointed to the potential for lower interest rates in calendar year 2026, which it expects should drive positive estimate revisions for the company.
In other recent news, ServiceTitan is gearing up for its second-quarter earnings report, scheduled for September 4. Several firms have reiterated their positive outlooks on the company. TD Cowen maintained a Buy rating with a price target of $145, anticipating a strong performance with a 19% revenue growth aligning with the high end of guidance. KeyBanc also upheld an Overweight rating, suggesting potential upside to the quarterly results that could enhance the full-year outlook, setting a price target at $140. Stifel reiterated a Buy rating and a $125 price target, highlighting ServiceTitan’s potential benefits from artificial intelligence and machine learning advancements. Truist Securities echoed the positive sentiment with a Buy rating and a $120 price target, noting that elevated temperatures in June and July could positively influence the company’s performance. These developments reflect a broadly optimistic sentiment among analysts regarding ServiceTitan’s upcoming earnings.
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