Shares of ServiceNow, Inc. (NYSE:NOW) have earned a consensus rating of “Moderate Buy” from 32 ratings firms. Of the 32 firms, two have rated the stock as a hold, while thirty have given a buy recommendation. The average twelve-month price target among these ratings is $594.79.
Several equities research analysts have recently issued reports on ServiceNow. Moffett Nathanson raised their price target from $549.00 to $600.00 and gave the stock an “outperform” rating. Piper Sandler also boosted the price target from $525.00 to $600.00. TheStreet upgraded ServiceNow from a “c+” rating to a “b” rating. Jefferies Financial Group raised their target price from $525.00 to $650.00 and gave the stock a “buy” rating. Barclays, on the other hand, lowered their price target from $646.00 to $644.00 and set an “overweight” rating on the stock.
In terms of insider activity, COO Chirantan Jitendra Desai recently sold 4,500 shares of the firm’s stock, worth a total of $2,664,450. Christopher Bedi, an insider, also sold 1,000 shares of the stock for $593,510. Over the last three months, insiders have sold a total of 17,951 shares, equivalent to $10,147,437.
Institutional trading of ServiceNow has been active, with hedge funds adding to or reducing their stakes in the company. RB Capital Management LLC acquired an additional 192 shares, while Zions Bancorporation N.A. purchased an extra 133 shares. Brown Brothers Harriman & Co. saw a 728.0% increase in their stake, and Parkside Financial Bank & Trust increased their position by 9.0%. Institutional investors now own 87.14% of the company’s stock.
ServiceNow stock opened at $579.58 on Monday. The company has a market cap of $118.08 billion and a P/E ratio of 83.51. The firm’s 50-day moving average price is $574.04, while its 200-day moving average price is $518.80. ServiceNow reported earnings of $0.77 per share for the quarter, beating the consensus estimate of $0.43. The company had revenue of $2.15 billion during the quarter. Analysts predict that ServiceNow will post an EPS of 3.59 for the current fiscal year.
ServiceNow, Inc. provides enterprise cloud computing solutions for businesses worldwide. The company operates the Now platform, offering a range of services including workflow automation, artificial intelligence, machine learning, robotic process automation, and more. MarketBeat generates instant news alerts using narrative science technology and financial data to provide the fastest and most accurate reporting. This story has been reviewed by MarketBeat’s editorial team.
Source: Marketbeat Ratings
- Consensus Rating: The average rating given to a stock by analysts.
- Price Target: The projected price level of a financial security stated by an investment analyst or advisor.
- Outperform: A recommendation to buy a particular security or sector because it is expected to perform better than the overall market.
- Hold: A recommendation to neither buy nor sell a particular security.
- Overweight: A recommendation to buy a particular security or sector because it is expected to outperform the overall market.
- Insider: A director or senior officer of a company, or any person or entity that beneficially owns more than 10% of a company’s voting shares.
- Hedge Fund: An investment partnership that pools capital from accredited individuals or institutional investors and invests in a variety of assets.
- Moving Average: A commonly used statistical calculation that is used to analyze data points by creating a series of averages of different subsets of the full data set.
- P/E Ratio: The price-to-earnings ratio is a valuation ratio that compares a company’s current share price to its earnings per share.
- EPS: Earnings per share is a financial metric that indicates the profitability of a company.