TTAN - Additional Thoughts Post 1QFY27 Report & Callback with the Co; Reiterate Buy

研报英文原文证据摘录

TTAN - Additional Thoughts Post 1QFY27 Report & Callback with the Co; Reiterate Buy

Truist Securities

Equity Research Report June 5, 2026

TMT: Application Software and ServiceTitan, Inc. (TTAN)

Agentic AI

TTAN - Additional Thoughts Post 1QFY27 Report & Callback with

Terry Tillman the Co; Reiterate Buy

404-926-5362

Terry.Tillman@truist.com

Following strong 1QFY27 results and a clean beat-and-raise quarter, we have included

Connor Passarella additional updates/notes post the earnings call and callback with the company. Topics

212-326-6153 discussed include Virtual Agent early deployments, AI product impact to future usage

Connor.Passarella@truist.com revenue, Max adoption acceleration and customer reception, AI's impacts on internal

organizational efficiency, progress on the roofing opportunity, and a few modeling notes

Giancarlo Valle around seasonality. Reiterate Buy & $110 PT.

212-537-9006

Giancarlo.Valle@Research.truist.com

Virtual Agents Remain in the Early Innings of Deployment. The company provided

additional context on the rollout of Virtual Agents, noting that the product was initially

launched to a limited set of customers in 4Q before expanding more broadly in 1Q.

Stock Rating BUY Importantly, ServiceTitan only began putting the full weight of its GTM organization

Unchanged behind the offering in late 1Q and early 2Q, suggesting adoption remains in the early

stages despite encouraging customer reception. Virtual Agents are currently being sold

Price Target $110.00 primarily into the existing customer base, though management expects the product to

Unchanged become increasingly embedded in new customer sales motions over time. On competitive

positioning, management indicated it is still too early to assess share gains against point-