ServiceTitan stock rating reaffirmed at Buy by TD Cowen after conference

TD Cowen has maintained its Buy rating and $100.00 price target for ServiceTitan (NASDAQ:TTAN) after the company's customer conference in Orlando. The price target indicates a potential upside of 42% from the current trading price of $70.07. ServiceTitan reported that the conference was more extensive than the previous year, with the Max product now fully operational.

The Max product is now available to all new and existing residential customers across plumbing, HVAC, electrical, and garage services. Additionally, the company introduced Demand AI and Field AI, both available immediately, with a tiered pricing model offering discounts compared to the full Max product. TD Cowen highlighted strong operational metrics, including 22.9% revenue growth and a 71% gross profit margin.

Analysts have revised their earnings estimates upwards for ServiceTitan, and the company is projected to become profitable this year despite current losses.