ServiceNow PT Raised to $40.00 (NOW)
Analysts at Credit Suisse upped their target price on shares of ServiceNow (NYSE:NOW) from $35.00 to $40.00 in a research report issued to clients and investors on Friday, Analyst RN reports. The firm currently has a “neutral” rating on the stock. Credit Suisse’s price target would indicate a potential downside of 29.44% from the stock’s previous close.
ServiceNow (NYSE:NOW) traded down 2.88% on Friday, hitting $56.69. 2,050,901 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 $7.755 billion.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results 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.
NOW has been the subject of a number of other recent research reports. Analysts at Susquehanna raised their price target on shares of ServiceNow from $56.00 to $65.00 in a research note to investors on Thursday. They now have a “positive” rating on the stock. Separately, 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. Finally, 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. Five equities research 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 stock presently has a consensus rating of “Buy” and an average price target of $57.54.
In other ServiceNow news, SVP David Schneider sold 25,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $50.54, for a total transaction of $1,288,770.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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