Analyst Jason Rechel of Needham reiterated a Buy rating on ServiceTitan, Inc. Class A (TTAN – Research Report), with a price target of $125.00.
Jason Rechel has given his Buy rating due to a combination of factors that highlight ServiceTitan’s strong market position and growth potential. One of the primary reasons is the company’s resilience to economic downturns, as its services are considered essential, leading to stable demand even in recessionary periods. This stability is reflected more in the type of services offered rather than a reduction in service calls.
Another factor influencing the Buy rating is ServiceTitan’s significant growth opportunities, particularly through natural expansion in seat and usage, as well as the early-stage adoption of its PRO modules. Additionally, the company is poised to capitalize on new growth areas such as roofing and commercial services, which are large markets with potential for significant disruption. These elements collectively suggest a promising outlook for ServiceTitan, justifying the Buy recommendation.
In another report released yesterday, TD Cowen also initiated coverage with a Buy rating on the stock with a $120.00 price target.