Analyst Josh Baer from Morgan Stanley maintained a Hold rating on ServiceTitan, Inc. Class A and keeping the price target at $118.00.
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Josh Baer has given his Hold rating due to a combination of factors impacting ServiceTitan, Inc. Class A. The company has shown resilience with its business model and competitive position, but concerns have arisen from the residential HVAC sector, a significant market for ServiceTitan. Recent OEM results indicate ongoing challenges in this area, which have contributed to investor caution.
Despite surpassing Q2 guidance and consensus, ServiceTitan’s stock performance has lagged, partly due to the broader industry’s headwinds, such as excess inventory and slower demand. While the company benefits from a subscription model and non-discretionary job focus, the potential for weaker growth in gross transaction value (GTV) remains a concern. Given these mixed signals, Josh Baer maintains a Hold rating, suggesting a cautious approach amid the current market dynamics.
According to TipRanks, Baer is a 3-star analyst with an average return of 3.0% and a 50.77% success rate. Baer covers the Technology sector, focusing on stocks such as ServiceTitan, Inc. Class A, Lightspeed POS Inc, and Monday.com.