Canaccord Genuity Reiterates “Buy” Rating for ServiceNow (NOW)
ServiceNow (NYSE:NOW)‘s stock had its “buy” rating restated by stock analysts at Canaccord Genuity in a report issued on Wednesday, Analyst Ratings Network.com reports. They currently have a $55.00 price target on the stock. Canaccord Genuity’s price target suggests a potential upside of 6.82% from the stock’s previous close.
A number of other analysts have also recently weighed in on NOW. Analysts at Mizuho raised their price target on shares of ServiceNow (NYSE:NOW) from $50.00 to $60.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Morgan Stanley upgraded shares of ServiceNow (NYSE:NOW) from an “equal weight” rating to an “overweight” rating in a research note to investors on Wednesday, September 18th. They now have a $62.00 price target on the stock. Finally, analysts at JMP Securities initiated coverage on shares of ServiceNow (NYSE:NOW) in a research note to investors on Wednesday, September 4th. They set an “outperform” rating and a $56.00 price target on the stock. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $48.78.
ServiceNow (NYSE:NOW) opened at 51.49 on Wednesday. ServiceNow has a 1-year low of $25.54 and a 1-year high of $53.11. The stock has a 50-day moving average of $48.17 and a 200-day moving average of $41.72. The company’s market cap is $7.044 billion.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.05) by $0.01. The company had revenue of $102.20 million for the quarter, compared to the consensus estimate of $95.52 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 79.9% on a year-over-year basis. On average, analysts predict that ServiceNow will post $-0.09 earnings per share for the current fiscal year.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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