William Blair analyst Dylan Becker has reiterated their bullish stance on TTAN stock, giving a Buy rating today.
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Dylan Becker has given his Buy rating due to a combination of factors that highlight ServiceTitan’s strong performance and strategic positioning. The company reported impressive third-quarter results, surpassing expectations across all key metrics and raising its full-year guidance beyond the quarterly achievements. This robust performance is attributed to a balanced revenue growth of 25% across both residential and commercial sectors, demonstrating the company’s ability to maintain operating leverage and meet its incremental margin targets.
Despite challenges in the residential HVAC market, ServiceTitan’s results underscore the platform’s diversification and resilience, supporting its potential for sustained growth. The company’s strategic positioning in the early stages of digitizing the trades ecosystem further enhances its growth prospects. Additionally, the management’s cautious approach to guidance suggests potential for future upward revisions. With the stock trading at a favorable valuation relative to projected revenue, Becker views ServiceTitan as a valuable asset in the industry, justifying the Buy rating.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $140.00 price target.