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Investing.com - Canaccord Genuity raised its price target on ServiceTitan (NASDAQ:TTAN) to $140.00 from $130.00 on Friday, while maintaining a Buy rating on the vertical SaaS company. The stock, currently trading at $117.16 with a market cap of $10.89 billion, has shown strong momentum with a 23% gain over the past six months.
The firm cited potential upward revisions to earnings estimates as one factor supporting the higher valuation target for the company, which provides software solutions for home service businesses. According to InvestingPro, 14 analysts have recently revised their earnings estimates upward for the upcoming period, with price targets ranging from $118 to $155.
Canaccord noted that vertical SaaS companies like ServiceTitan may be more insulated from broader negative sentiment affecting the software-as-a-service sector.
The research firm acknowledged ServiceTitan’s premium valuation at 10.5x EV/R on calendar year 2026 estimates, but suggested the quality of the business justifies the price.
Canaccord recommended investors consider owning "at least a partial position" in ServiceTitan now, while looking to "opportunistically round it out on pullbacks in the stock."
In other recent news, ServiceTitan has reported impressive second-quarter results, exceeding revenue expectations by $13 million, with total revenue reaching $242 million, marking a 25% year-over-year growth. The company also demonstrated strong commercial performance, with faster-than-expected growth from both new and existing customers. Analysts have responded positively to these developments, with Truist Securities raising its price target to $130, citing the company’s robust results. TD Cowen also increased its price target to $150, highlighting ServiceTitan’s 25% revenue growth, which surpassed the company’s guidance. Piper Sandler followed suit by raising its target to $155, maintaining an Overweight rating due to the company’s strong quarterly performance. BMO Capital reiterated its Outperform rating with a $129 price target, noting the largest top and bottom-line beats since the IPO. Stifel maintained its Buy rating and $135 price target ahead of ServiceTitan’s Pantheon event, signaling continued confidence in the company’s trajectory. These recent developments underscore the positive sentiment among analysts regarding ServiceTitan’s financial health and growth prospects.
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