ServiceNow Given New $63.00 Price Target at Barclays (NOW)
Investment analysts at Barclays dropped their price objective on shares of ServiceNow (NYSE:NOW) from $71.00 to $63.00 in a note issued to investors on Friday. Barclays’ price target would indicate a potential upside of 24.90% from the stock’s previous close.
In other ServiceNow news, SVP Daniel Mcgee sold 10,000 shares of the company’s stock on the open market in a transaction dated Thursday, May 15th. The shares were sold at an average price of $47.00, for a total transaction of $470,000.00. Following the sale, the senior vice president now directly owns 34,758 shares of the company’s stock, valued at approximately $1,633,626. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of ServiceNow (NYSE:NOW) opened at 50.44 on Friday. ServiceNow has a 1-year low of $35.21 and a 1-year high of $71.80. The stock’s 50-day moving average is $50.1 and its 200-day moving average is $57.04. The company’s market cap is $7.235 billion.
ServiceNow (NYSE:NOW) last posted its quarterly earnings results 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. Analysts expect that ServiceNow will post $-0.06 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. initiated coverage on shares of ServiceNow in a research note on Wednesday. They set an “overweight” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of ServiceNow in a research note on Tuesday, April 29th. They now have a $65.00 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of ServiceNow from $74.00 to $65.00 in a research note on Tuesday, April 29th. They now have a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $63.01.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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