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Investing.com - TD Cowen maintained its Buy rating and $145.00 price target on ServiceTitan (NASDAQ:TTAN) stock on Thursday. The company, currently valued at nearly $10 billion, has received strong analyst support, with InvestingPro data showing 11 analysts recently revising earnings estimates upward.
The firm cited bullish factors for ServiceTitan’s second-quarter gross transaction value (GTV), including June’s hot weather and regulatory changes affecting air conditioning refrigerants.
TD Cowen noted that HVAC represents one of the top four trades for ServiceTitan, and recent checks with two HVAC contractors revealed accelerating replacement activity driven by new AC refrigerant requirements.
The research firm also analyzed Cooling Degree Data as part of its assessment, finding favorable conditions for ServiceTitan’s business performance.
TD Cowen expects these factors to positively impact ServiceTitan’s GTV and usage growth during what is typically the company’s seasonally strongest quarter.
In other recent news, ServiceTitan reported first-quarter revenue of $215.69 million, a 27% increase year-over-year, exceeding expectations. However, the company posted a GAAP net loss from operations of $49.5 million, though this was an improvement from the previous year’s loss. Despite the positive revenue results, the market reacted negatively, highlighting investor concerns about ongoing profitability issues. ServiceTitan provided guidance for the second quarter, projecting revenue between $228 million and $230 million, surpassing the consensus estimate. For the full fiscal year 2026, the company expects revenue in the range of $910 million to $920 million, above analyst expectations.
TD Cowen raised its price target for ServiceTitan to $145, maintaining a Buy rating, citing strong growth and a successful launch of large commercial accounts. Truist Securities also reiterated a Buy rating with a $120 target, expressing confidence in ServiceTitan’s potential for robust revenue growth and profitability. William Blair maintained an Outperform rating, noting the company’s favorable competitive positioning and market opportunities. Loop Capital held its price target at $100, emphasizing ServiceTitan’s steady growth and strong market position in the trade services sector. These developments reflect a mix of optimism and caution among analysts regarding ServiceTitan’s future performance.
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