ServiceNow Price Target Lowered to $65.00 at RBC Capital (NOW)
Stock analysts at RBC Capital reduced their price target on shares of ServiceNow (NYSE:NOW) from $74.00 to $65.00 in a report issued on Tuesday, American Banking News.com reports. The firm currently has a “buy” rating on the stock. RBC Capital’s price objective points to a potential upside of 40.03% from the company’s current price.
NOW has been the subject of a number of other recent research reports. Analysts at Ned Davis Research upgraded shares of ServiceNow from a “sell” rating to a “neutral” rating in a research note on Monday. Separately, analysts at B. Riley reiterated a “neutral” rating on shares of ServiceNow in a research note on Thursday, April 24th. They now have a $60.00 price target on the stock. Finally, analysts at UBS AG raised their price target on shares of ServiceNow from $69.00 to $70.00 in a research note on Thursday, April 24th. They now have a “buy” rating on the stock. Five investment 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. The company has an average rating of “Buy” and an average price target of $63.45.
ServiceNow (NYSE:NOW) opened at 46.42 on Tuesday. 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 $57.84 and its 200-day moving average is $57.73. The company’s market cap is $6.550 billion.
ServiceNow (NYSE:NOW) last released its earnings data on Wednesday, April 23rd. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter 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 Luddy sold 151,400 shares of the stock on the open market in a transaction dated Thursday, April 24th. The shares were sold at an average price of $52.57, for a total value of $7,959,098.00. Following the sale, the insider now directly owns 901,587 shares in the company, valued at approximately $47,396,429. The transaction was disclosed in a 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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