ServiceNow Coverage Initiated at RBC Capital (NOW)
Analysts at RBC Capital started coverage on shares of ServiceNow (NYSE:NOW) in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $70.00 price target on the stock. RBC Capital’s price objective points to a potential upside of 22.61% from the company’s current price.
Shares of ServiceNow (NYSE:NOW) traded down 3.86% during mid-day trading on Monday, hitting $57.09. The stock had a trading volume of 1,978,785 shares. ServiceNow has a 1-year low of $25.59 and a 1-year high of $59.50. The stock has a 50-day moving average of $53.78 and a 200-day moving average of $49.53. The company’s market cap is $7.920 billion.
ServiceNow (NYSE:NOW) last issued its quarterly 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 $-0.07 earnings per share for the current fiscal year.
A number of other firms have also recently commented on NOW. Analysts at Barclays raised their price target on shares of ServiceNow from $60.00 to $65.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Separately, analysts at FBN Securities raised their price target on shares of ServiceNow from $55.00 to $65.00 in a research note to investors on Friday, October 25th. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of ServiceNow from $35.00 to $40.00 in a research note to investors on Friday, October 25th. They now have a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $58.33.
In other ServiceNow news, SVP David Schneider sold 27,500 shares of ServiceNow stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $56.86, for a total transaction of $1,563,650.00. Following the completion of the transaction, the senior vice president now directly owns 730 shares of the company’s stock, valued at approximately $41,508. The transaction was disclosed in a legal filing with the SEC, 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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