ServiceTitan assumed with a Neutral at Goldman Sachs

Goldman Sachs assumed coverage of ServiceTitan (TTAN) with a Neutral rating and $117 price target ServiceTitan’s strong position in an under-digitized trades market underpins a sizable long-term growth opportunity, with meaningful revenue upside from higher attach rates and expansion into new trades supporting improving fundamentals over time, the analyst tells investors in a research note. However, given the current valuation, near-term upside appears largely reflected despite the attractive long-term margin and growth trajectory, the firm argues.