Barclays Capital Increases ServiceNow Price Target to $60.00 (NOW)
Analysts at Barclays Capital upped their target price on shares of ServiceNow (NYSE:NOW) from $52.00 to $60.00 in a research report issued to clients and investors on Monday, Analyst Ratings Network reports. The firm currently has an “overweight” rating on the stock. Barclays Capital’s price objective points to a potential upside of 12.68% from the stock’s previous close.
In other ServiceNow news, Insider Frederic B. Luddy sold 162,000 shares of ServiceNow stock on the open market in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $51.75, for a total transaction of $8,383,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
ServiceNow (NYSE:NOW) traded down 2.17% during mid-day trading on Monday, hitting $53.25. 1,235,713 shares of the company’s stock traded hands. ServiceNow has a 52 week low of $25.54 and a 52 week high of $55.46. The stock’s 50-day moving average is $49.03 and its 200-day moving average is $42.00. The company’s market cap is $7.285 billion.
ServiceNow (NYSE:NOW) last released its 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Northland Securities upgraded shares of ServiceNow from a “market perform” rating to an “outperform” rating in a research note to investors on Friday. They now have a $62.00 price target on the stock, up previously from $42.50. Separately, analysts at Northland Capital Partners upgraded shares of ServiceNow from a “market perform” rating to an “outperform” rating in a research note to investors on Friday. They now have a $62.00 price target on the stock, up previously from $42.50. Finally, analysts at UBS AG raised their price target on shares of ServiceNow from $50.00 to $62.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $52.08.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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