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Investing.com - Truist Securities raised its price target on ServiceTitan (NASDAQ:TTAN) to $130.00 from $120.00 on Friday, while maintaining a Buy rating on the stock. This aligns with the broader analyst sentiment, as the stock currently trades at $100.31 with analyst targets ranging from $109 to $155.
The price target increase follows ServiceTitan’s strong second-quarter results, which exceeded expectations across its business model, particularly in profits. The company showed notable strength in commercial performance and faster-than-expected growth from both new and existing customers, achieving impressive revenue growth of 28% and maintaining a healthy gross margin of 66%.
Truist highlighted several growth drivers for ServiceTitan , including enterprise traction, Pro product growth, commercial expansion, and strong performance in the roofing segment. The firm noted that management reported more efficient progress against its four key fiscal year 2026 priorities than initially expected.
The research firm expressed increased confidence in ServiceTitan’s long-term growth prospects, with the updated guidance prompting Truist to raise its estimates for the company.
ServiceTitan provides cloud-based software solutions for home service businesses, including those in HVAC, plumbing, electrical, and other trades. InvestingPro analysis reveals the company maintains strong liquidity with current assets exceeding short-term obligations, while operating with moderate debt levels. For deeper insights into ServiceTitan’s financial health and growth prospects, including 8 additional exclusive ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, ServiceTitan has reported robust financial performance with a total revenue of $242 million, marking a 25% year-over-year growth. This growth surpassed expectations by $13 million compared to the midpoint guidance, as noted by Piper Sandler, which subsequently raised its price target to $155 while maintaining an Overweight rating. The company’s revenue growth was further highlighted by TD Cowen, who increased their price target to $150, emphasizing the 25% revenue increase driven by subscription revenues and Gross Transaction Volume (GTV).
BMO Capital described ServiceTitan’s second-quarter fiscal results as "healthy," noting it delivered the largest top and bottom-line beats since its IPO, and reiterated its Outperform rating with a $129 price target. KeyBanc also maintained its Overweight rating with a $140 price target, citing a 5.5% exceedance in top-line expectations due to strong new customer growth and increased GTV. Canaccord Genuity echoed these sentiments by reiterating a Buy rating and a $130 price target, highlighting a 26% increase in platform revenue and a significant improvement in operating margins. These developments reflect strong investor confidence and positive momentum for ServiceTitan.
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