Bitcoin price today: falls to 2-week low below $113k ahead of Fed Jackson Hole
Investing.com - Loop Capital upgraded ServiceTitan (NASDAQ:TTAN) from Hold to Buy on Monday, raising the price target to $140.00 from $100.00. The company, currently valued at $9.4 billion, has demonstrated strong revenue growth of 28% over the last twelve months, though InvestingPro data indicates it’s trading above its Fair Value.
The upgrade follows Loop Capital’s inaugural quarterly survey of ServiceTitan’s target customers, specifically businesses in the trade industry with annual revenue exceeding $10 million. The survey revealed "overwhelmingly positive" feedback regarding ServiceTitan’s market leadership position. According to InvestingPro data, 11 analysts have recently revised their earnings estimates upward for the upcoming period, suggesting growing confidence in the company’s prospects.
Survey respondents demonstrated strong recognition of ServiceTitan as a market leader, with results showing a robust pipeline of strategic prospects planning to purchase the company’s solutions over the next 12 months. The survey also indicated positive adoption and expansion of Pro products within the existing customer base.
Loop Capital noted that the positive survey results were particularly prominent among larger customers with annual revenue exceeding $100 million. This finding strengthened the firm’s confidence in ServiceTitan’s positioning to execute both short-term and long-term growth strategies.
The survey was conducted at the end of ServiceTitan’s seasonally strong fiscal second quarter ending in July, leading Loop Capital to expect the company’s outlook for the remainder of the year to reflect what they believe to be positive second-quarter bookings performance. While currently unprofitable, analysts predict the company will achieve profitability this year, with the next earnings report due on September 4th.
In other recent news, ServiceTitan has seen a series of analyst updates and discussions that highlight its current market position and future potential. Piper Sandler raised its price target for ServiceTitan to $150, citing expectations for a strong second-quarter performance due to seasonal factors and a favorable revenue mix. KeyBanc reiterated its Overweight rating with a $140 price target after discussions with ServiceTitan’s CFO and investor relations team, focusing on the company’s commercial opportunities and margin expansion. TD Cowen also maintained a Buy rating and set a $145 price target, noting positive influences from hot weather and regulatory changes.
Meanwhile, Loop Capital maintained its Hold rating with a $100 price target, emphasizing positive feedback from investor meetings regarding ServiceTitan’s market position and growth opportunities. William Blair reiterated an Outperform rating after meetings with the company’s Vice President of Investor Relations, highlighting the platform’s potential for revenue growth and operational efficiency. These developments reflect a generally optimistic outlook from analysts, with several firms maintaining or increasing their price targets and ratings based on recent performance and growth prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.