ServiceNow Rating Reiterated by Barclays (NOW)
ServiceNow (NYSE:NOW)‘s stock had its “buy” rating restated by investment analysts at Barclays in a note issued to investors on Thursday, Analyst Ratings Network reports. They currently have a $60.00 price objective on the stock. Barclays’ target price indicates a potential upside of 13.29% from the stock’s previous close.
NOW has been the subject of a number of other recent research reports. Analysts at Maxim Group raised their price target on shares of ServiceNow from $58.00 to $62.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Pacific Crest raised their price target on shares of ServiceNow from $48.00 to $60.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, 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. Five equities research 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. ServiceNow presently has a consensus rating of “Buy” and a consensus target price of $53.69.
ServiceNow (NYSE:NOW) traded up 8.44% during mid-day trading on Thursday, hitting $57.431. 1,277,479 shares of the company’s stock traded hands. ServiceNow has a 52-week low of $25.54 and a 52-week 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 $7.857 billion.
ServiceNow (NYSE:NOW) last released its earnings data on Wednesday, October 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 73.1% on a year-over-year basis. On average, analysts predict that ServiceNow will post $-0.09 earnings per share for the current fiscal year.
In other ServiceNow news, SVP David Schneider sold 25,500 shares of the company’s 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 document filed with the Securities & Exchange Commission, which is available at this link.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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