ServiceNow PT Raised to $55.00 (NOW)
Stock analysts at Evercore Partners hoisted their price target on shares of ServiceNow (NYSE:NOW) from $50.00 to $55.00 in a report issued on Thursday, American Banking & Market News reports. The firm currently has an “equal weight” rating on the stock. Evercore Partners’ price objective indicates a potential downside of 5.77% from the stock’s previous close.
In other ServiceNow news, SVP David Schneider unloaded 25,500 shares of the stock on the open market in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $50.54, for a total value of $1,288,770.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
ServiceNow (NYSE:NOW) traded up 10.22% during mid-day trading on Thursday, hitting $58.37. The stock had a trading volume of 3,032,544 shares. ServiceNow has a 1-year low of $25.54 and a 1-year high of $50.35. The stock has a 50-day moving average of $45.42 and a 200-day moving average of $40.25. The company’s market cap is $7.985 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.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity raised their price target on shares of ServiceNow from $55.00 to $60.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of ServiceNow from $47.00 to $60.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Barclays reiterated a “buy” rating on shares of ServiceNow in a research note to investors on Thursday. They now have a $60.00 price target on the stock. Five 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 company. The company currently has an average rating of “Buy” and an average price target of $56.23.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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