ServiceNow’s Neutral Rating Reaffirmed at Credit Suisse (NOW)
ServiceNow (NYSE:NOW)‘s stock had its “neutral” rating reiterated by investment analysts at Credit Suisse in a note issued to investors on Thursday. They currently have a $50.00 price target on the stock, up from their previous price target of $40.00. Credit Suisse’s price target suggests a potential downside of 14.97% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of ServiceNow from $65.00 to $70.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of ServiceNow from $75.00 to $78.00 in a research note on Thursday. They now have a “positive” rating on the stock. Finally, analysts at Barclays raised their price target on shares of ServiceNow from $63.00 to $66.00 in a research note on Thursday. They now have an “overweight” rating on the stock. Six 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 stock. The company has an average rating of “Buy” and an average target price of $64.61.
Shares of ServiceNow (NYSE:NOW) traded down 6.13% on Thursday, hitting $58.80. 3,004,535 shares of the company’s stock traded hands. ServiceNow has a 1-year low of $41.33 and a 1-year high of $71.80. The stock has a 50-day moving average of $59.41 and a 200-day moving average of $58.55. The company’s market cap is $8.434 billion.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $166.48 million for the quarter, compared to the consensus estimate of $161.53 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 62.9% on a year-over-year basis. On average, analysts predict that ServiceNow will post $-0.07 earnings per share for the current fiscal year.
In other ServiceNow news, Insider Frederic B. Luddy sold 50,000 shares of ServiceNow stock on the open market in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $58.31, for a total value of $2,915,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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