David Hynes, an analyst from Canaccord Genuity, maintained the Buy rating on ServiceTitan, Inc. Class A. The associated price target is $130.00.
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David Hynes has given his Buy rating due to a combination of factors that highlight ServiceTitan’s strong performance and strategic positioning. The company reported impressive quarterly results with a 25% increase in total revenue and a 26% rise in platform revenue, alongside a notable improvement in non-GAAP operating margins by over 500 basis points year-over-year. Additionally, the gross transaction volume (GTV) grew by 19% year-over-year, indicating robust usage and customer growth.
Moreover, ServiceTitan secured a significant customer win with Roto-Rooter, the largest plumbing and water cleanup service provider in North America, which underscores the company’s expanding commercial presence. The successful execution of a fully automated job by a smaller customer further demonstrates the potential of ServiceTitan’s AI-driven platform to enhance efficiency and growth. Despite the stock’s premium valuation, Hynes believes that ServiceTitan’s durable growth and expanding margins justify the investment, reinforcing the Buy rating.
In another report released today, Truist Financial also reiterated a Buy rating on the stock with a $130.00 price target.
TTAN’s price has also changed moderately for the past six months – from $91.420 to $113.990, which is a 24.69% increase.