7. ServiceTitan, Inc. (NASDAQ:TTAN)
Market Capitalization: $11.356 billion
Number of Hedge Fund Holders: 43
Number of Billionaires: 10
Total Value of Billionaire Holdings: $260,350,141
ServiceTitan, Inc. (NASDAQ:TTAN) is a cloud-based software technology that provides a technology platform for contractors and businesses. Its platform helps HVAC, plumbing, electrical, and other similar businesses manage various operations through a single platform. The company’s business lines include Core, FinTech, and Pro, which include advanced features for large businesses.
On April 25, KeyBanc raised the firm’s price target on the stock from $120 to $140, while keeping an Overweight rating on the shares. The firm mentioned that they believe that the company’s pro product cross-selling opportunity remains attractive thereby justifying the increase in target price. ServiceTitan, Inc. (NASDAQ:TTAN) reported its fiscal fourth quarter results for 2025 on March 13. The company grew its revenue by 29% year-over-year to reach $209.3 million. On the other hand, the platform revenue alone grew 30% during the same time to reach $200.1 million.
Baron Discovery Fund stated about ServiceTitan, Inc. (NASDAQ:TTAN) in its Q4 2024 investor letter. The fund believes that the company has a total addressable market of $1.5 trillion out of which $13 billion is serviceable today. On top of this, the company also has the first movers advantage. Here’s what the fund said about the company.
“ServiceTitan, Inc. (NASDAQ:TTAN) is the leading business management software platform for “the trades” (i.e HVAC, plumbing, electrical, pest control, roofing, etc.). The platform serves as a system of record offering clients nearly everything they need to run their businesses including customer relationship management (sales enablement, marketing automation, and customer service), field service management (scheduling/dispatching), enterprise resource planning (inventory), human capital management (compensation and payroll) and fintech (payments and consumer financing).
ServiceTitan operates in a large market. In just the U.S. and Canada, the trades are roughly a $1.5 trillion annual industry and ServiceTitan’s current set of solutions serve about $650 billion of this spend. This equates to about a $30 billion addressable market for the company, of which $13 billion is serviceable today. The industry is also resilient given that over 75% of U.S. residential trades jobs are non-discretionary in nature. Relative to its competition, ServiceTitan has several notable advantages including: 1) it is by far the leading end-to-end software platform built specifically for the trades that provides a strong return on investment to clients and would be very hard to catch at this point given it is virtually a one-stop-shop for all of a trade’s business’ technology needs; 2) it has a first mover advantage that allowed the company to build up broad-based customer trust over time; and 3) the company’s scale provides a big data advantage as ServiceTitan can use its industry leading data to make continuous improvements to its product offerings and connect previously disparate processes for customers…” (Click here to read the full text)
