Shares of ServiceTitan Inc ( TTAN ) have been on a downturn since the company’s initial public offering last month.

The cloud-based software company pre-released its third-quarter results. Here are some key analyst takeaways.

Goldman Sachs analyst Kash Rangan reiterated a Neutral rating, while raising the price target from $100 to $108.

Needham analyst Scott Berg reaffirmed a Buy rating and price target of $125.

Piper Sandler analyst Brent Bracelin maintained an Overweight rating and price target of $125.

KeyBanc Capital Markets analyst Jason Celino reiterated an Overweight rating and price target of $120.

Truist analyst Terry Tillman reaffirmed a Buy rating and price target of $120.

Check out other analyst stock ratings.

Goldman Sachs: The pullback in ServiceTitan's ( TTAN ) stock during Monday's after-hours trading reflects "investors' expectation for greater upside to topline," Rangan said. The company's results were "solid," with strong subscription revenue growth of 27% year-on-year and reaching an annual run-rate of $581 million.

ServiceTitan ( TTAN ) has a "long runway" in a target addressable market that is large (valued at $650 billion) and underpenetrated, the analyst stated.  The company's "durable growth trajectory" is also backed by its "continued expansion into Commercial, supported by the strong value proposition (e.g., data, brand awareness) of newly-introduced commercial CRM Pro-Product, Convex," he added.

Needham: ServiceTitan ( TTAN ) will host its first earnings call as a public company after market close on Tuesday and there is unlikely to be any major surprises, Berg said. Management is likely to guide to fourth-quarter subscription revenue growth of around 22% and total revenue growth of about 20%.

Given the late timing of reported 3Q earnings, Berg expects “4Q revenue visibility will be extraordinarily high — driving less conservatism and less upside when ultimately reported.”

Piper Sandler: ServiceTitan's ( TTAN ) third-quarter revenues climbed 24% year-on-year to $199.3 million, in-line with its guidance, Bracelin said. Non-GAAP operating income came in-line at $1.6 million, while free cash flows of $10.6 million, "came in above our prior estimate of $5.9M," he added.

"Q4 subscription revenue momentum is expected to more than offset the seasonal decline in usage revenue, resulting top-line growth of 24%," the analyst wrote. The guidance for the quarter is impacted by "a headwind from a disposed asset," he further stated.

KeyBanc Capital Markets: In the first quarter after its IPO, the company reported strong results and guidance, Celino said. "What surprised us the most was the degree of further acceleration in F3Q and magnitude of the F4Q raise," he added.

Provided there is "continued momentum in Pro product attach," there is potential for further acceleration in the fiscal fourth quarter, the analyst stated.

Truist Securities: ServiceTitan's ( TTAN ) platform revenue grew by 26% year-on-year, total revenue by 24% and gross transaction value (GTV) by 20%, Tilman said. The company delivered steady execution against its "large and durable market opportunity," he added.

Stable execution and strong traction with new and existing Pro products "drove subscription upside,” the analyst stated. ServiceTitan ( TTAN ) now offers 10 Pro and fintech add-on products, "which provide significant cross-sell opportunities, deepens customer engagement, delivers on higher ROI for customers and increase the company’s effective take rate," he further wrote.

Price Action: Shares of ServiceTitan ( TTAN ) had declined by 7.8% to $92.31 at the time of publication on Tuesday.

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