Pacific Crest Increases ServiceNow Price Target to $60.00 (NOW)
Stock analysts at Pacific Crest increased their price objective on shares of ServiceNow (NYSE:NOW) from $48.00 to $60.00 in a report issued on Thursday, AnalystRatingsNetwork.com reports. The firm currently has an “outperform” rating on the stock. Pacific Crest’s target price would suggest a potential upside of 13.29% from the company’s current price.
In other ServiceNow news, SVP David Schneider sold 25,500 shares of ServiceNow stock on the open market in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $50.54, for a total transaction of $1,288,770.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
ServiceNow (NYSE:NOW) traded up 7.44% on Thursday, hitting $56.90. The stock had a trading volume of 990,173 shares. ServiceNow has a 1-year low of $25.54 and a 1-year high of $50.35. The stock’s 50-day moving average is $45.42 and its 200-day moving average is $40.25. The company’s market cap is $7.784 billion.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.01 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.02) by $0.03. The company had revenue of $111.30 million for the quarter, compared to the consensus estimate of $105.33 million. During the same quarter last year, the company posted ($0.06) earnings per share. ServiceNow’s revenue was up 73.1% compared to the same quarter last year. Analysts expect that ServiceNow will post $-0.09 EPS for the current fiscal year.
NOW has been the subject of a number of other recent research reports. Analysts at Janney Montgomery Scott initiated coverage on shares of ServiceNow in a research note to investors on Tuesday, October 8th. They set a “neutral” rating and a $53.25 price target on the stock. Separately, analysts at Barclays raised their price target on shares of ServiceNow from $52.00 to $60.00 in a research note to investors on Monday, October 7th. They now have an “overweight” rating on the stock. Finally, 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, October 4th. They now have a $62.00 price target on the stock, up previously from $42.50. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $53.69.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.