ServiceNow (NOW) Releases Quarterly Earnings Results
ServiceNow (NYSE:NOW) posted its quarterly earnings results on Wednesday. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.01) by $0.01, AnalystRatingsNetwork reports. The company had revenue of $125.20 million for the quarter, compared to the consensus estimate of $120.25 million.
In other ServiceNow news, SVP Daniel Mcgee unloaded 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $59.05, for a total transaction of $1,476,250.00. Following the transaction, the senior vice president now directly owns 34,465 shares of the company’s stock, valued at approximately $2,035,158. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on NOW shares. Analysts at Mizuho raised their price target on shares of ServiceNow from $60.00 to $70.00 in a research note to investors on Thursday, January 23rd. They now have a “buy” rating on the stock. On a related note, analysts at Maxim Group raised their price target on shares of ServiceNow from $62.00 to $65.00 in a research note to investors on Tuesday, January 21st. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of ServiceNow from $60.00 to $70.00 in a research note to investors on Friday, January 17th. They now have a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. ServiceNow has a consensus rating of “Buy” and an average target price of $59.38.
ServiceNow (NYSE:NOW) traded down 2.31% on Wednesday, hitting $57.60. The stock had a trading volume of 1,975,513 shares. ServiceNow has a 1-year low of $25.71 and a 1-year high of $63.04. The stock’s 50-day moving average is $56.04 and its 200-day moving average is $51.06. The company’s market cap is $7.991 billion.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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