ServiceNow Price Target Increased to $70.00 by Analysts at UBS AG (NOW)
Equities researchers at UBS AG boosted their price target on shares of ServiceNow (NYSE:NOW) from $69.00 to $70.00 in a research report issued on Thursday, AnalystRatings.NET reports. The firm currently has a “buy” rating on the stock. UBS AG’s price objective indicates a potential upside of 40.34% from the stock’s previous close.
Shares of ServiceNow (NYSE:NOW) traded down 6.01% during mid-day trading on Thursday, hitting $49.88. 10,450,296 shares of the company’s stock traded hands. ServiceNow has a 52-week low of $35.21 and a 52-week high of $71.80. The stock’s 50-day moving average is $59.04 and its 200-day moving average is $57.68. The company’s market cap is $7.038 billion.
ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 23rd. The company reported ($0.08) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.08). The company had revenue of $139.09 million for the quarter, compared to the consensus estimate of $134.64 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was up 61.8% on a year-over-year basis. On average, analysts predict that ServiceNow will post $-0.05 earnings per share for the current fiscal year.
In other ServiceNow news, Insider Frederic B. Luddy sold 151,400 shares of the company’s stock on the open market in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $52.57, for a total transaction of $7,959,098.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on NOW. Analysts at Robert W. Baird cut their price target on shares of ServiceNow from $70.00 to $65.00 in a research note on Wednesday, April 16th. Separately, analysts at Evercore Partners upgraded shares of ServiceNow from an “equal weight” rating to an “overweight” rating in a research note on Friday, April 4th. They now have a $68.00 price target on the stock, up previously from $60.00. They noted that the move was a valuation call. Finally, analysts at B. Riley initiated coverage on shares of ServiceNow in a research note on Friday, March 7th. They set a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. ServiceNow currently has a consensus rating of “Buy” and a consensus target price of $63.84.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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