ServiceNow Given New $62.00 Price Target at UBS AG (NOW)
Investment analysts at UBS AG raised their price target on shares of ServiceNow (NYSE:NOW) from $50.00 to $62.00 in a note issued to investors on Thursday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. UBS AG’s price target would indicate a potential upside of 18.61% from the company’s current price.
ServiceNow (NYSE:NOW) traded down 0.90% on Thursday, hitting $51.80. The stock had a trading volume of 343,378 shares. ServiceNow has a 52-week low of $25.54 and a 52-week high of $53.11. The stock’s 50-day moving average is $48.47 and its 200-day moving average is $41.7. The company’s market cap is $7.086 billion.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results 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. Analysts expect that ServiceNow will post $-0.09 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on NOW. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of ServiceNow (NYSE:NOW) in a research note to investors on Wednesday. They now have a $55.00 price target on the stock. Separately, 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. Finally, 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. Five investment 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 stock presently has a consensus rating of “Buy” and an average price target of $49.83.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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