Loop Capital raised its price target on ServiceTitan (NASDAQ:TTAN) to $100 from $90, while maintaining a Hold rating, reflecting confidence in the company’s accelerating momentum and expanding role in a rapidly evolving market. This follows the company’s Q1 earnings report, which resulted in more than 9% stock price drop intra-day today.

ServiceTitan continues to demonstrate robust growth, particularly through its product-led strategy targeting the highly fragmented trade services sector. With the industry undergoing widespread consolidation, the platform is increasingly seen as a go-to solution for streamlining operations across plumbing, HVAC, electrical, and now roofing and commercial services.

The company posted 29% year-over-year subscription revenue growth in its latest quarter—its second-strongest in the past six periods. This outpaced gross transaction value (GTV) growth in the low-to-mid 20% range, highlighting improved monetization of its existing customer base. Both metrics were modestly impacted by fewer calendar days in the quarter compared to the prior year.

Despite offering conservative guidance for the second quarter—a customary move due to variability tied to GTV—ServiceTitan raised its full-year 2026 revenue forecast by $15 million, well above the $8 million beat in Q1. With Q2 historically strong for bookings and renewals, Loop Capital expects a solid setup for the second half of the year.

The firm believes ServiceTitan is well positioned to become the dominant operating system for trade businesses amid the current industry-wide shift toward software-driven efficiency. The ongoing consolidation trend is seen as a major catalyst, creating tailwinds for long-term growth and adoption.