ServiceTitan (TTAN): Max Initiative, Transaction-Based Revenue, and Enterprise Wins Drive Long-Term Buy Thesis

In a report released today, Jason Rechel from Needham maintained a Buy rating on ServiceTitan, Inc. Class A, with a price target of $140.00.

Jason Rechel has given his Buy rating due to a combination of factors that underscore ServiceTitan’s attractive growth and monetization prospects. He highlights the company’s Max initiative as a meaningful future driver of revenue efficiency, with the potential to steadily lift take-rates above current levels as part of a broader effort to refine and upsell product bundles. In addition, he views transaction-based revenue as a durable growth pillar into FY27, even though it will likely normalize from the unusually strong uplift tied to prior go-to-market efforts aimed at accelerating adoption.

Rechel also points to the company’s success in securing major enterprise customers as a validation of ServiceTitan’s value proposition and scalability. In particular, the Roto-Rooter win is seen as a standout opportunity, with the customer’s single-brand, relatively streamlined structure supporting a faster rollout than typical large accounts. Taken together, these product, pricing, and enterprise traction dynamics support his constructive outlook on the company’s long-term growth profile and underpin his Buy recommendation on ServiceTitan, Inc. Class A (TTAN).

In another report released on January 8, Wells Fargo also maintained a Buy rating on the stock with a $140.00 price target.