Susquehanna Increases ServiceNow Price Target to $65.00 (NOW)
Investment analysts at Susquehanna hoisted their target price on shares of ServiceNow (NYSE:NOW) from $56.00 to $65.00 in a note issued to investors on Thursday, AnalystRatings.Net reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 11.36% from the stock’s previous close.
In other ServiceNow news, SVP David Schneider sold 25,500 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $50.54, for a total value of $1,288,770.00. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of other firms have also recently commented on NOW. Analysts at Raymond James raised their price target on shares of ServiceNow from $52.00 to $62.00 in a research note to investors on Thursday. They now have a “strong-buy” rating on the stock. Separately, analysts at JMP Securities raised their price target on shares of ServiceNow from $56.00 to $59.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Evercore Partners raised their price target on shares of ServiceNow from $50.00 to $55.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $56.23.
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 one year low of $25.54 and a one 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 posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 73.1% on a year-over-year basis.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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