ServiceTitan price target raised to $155 from $150 at Piper Sandler

Piper Sandler analyst Brent Bracelin raised the firm’s price target on ServiceTitan (TTAN) to $155 from $150 and keeps an Overweight rating on the shares. The firm notes ServiceTitan posted another quarter of strong results, punctuated by a $13M top-line beat to the midpoint guide, driving total revenue to $242M on 25% year-over-year growth. Platform revenue growth of 26% benefited from better-than-expected new customer growth, expansions, and usage revenue. While the revised guide still points to further deceleration to 15% growth exiting the year, strong execution, encouraging proof points across commercial and residential, and continued momentum with Pro products give Piper an upward bias and reinforce the long-term opportunity for this differentiated end-to-end platform.