ServiceNow Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:NOW)
Shares of ServiceNow (NYSE:NOW) have received an average rating of “Buy” from the twenty-three brokerages that are covering the company, Stock Ratings Network.com reports. Five research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $65.70.
ServiceNow (NYSE:NOW) opened at 57.71 on Friday. ServiceNow has a 52-week low of $41.33 and a 52-week high of $71.80. The stock has a 50-day moving average of $59.34 and a 200-day moving average of $58.51. The company’s market cap is $8.337 billion.
ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.07) earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted ($0.06) earnings per share. ServiceNow’s revenue was up 62.9% compared to the same quarter last year. On average, analysts predict that ServiceNow will post $-0.08 earnings per share for the current fiscal year.
In other ServiceNow news, Insider Frederic B. Luddy unloaded 50,000 shares of ServiceNow stock on the open market in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $58.31, for a total transaction of $2,915,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
NOW has been the subject of a number of recent research reports. Analysts at Credit Suisse reiterated a “neutral” rating on shares of ServiceNow in a research note on Thursday, July 31st. They now have a $50.00 price target on the stock, up previously from $40.00. Separately, analysts at RBC Capital raised their price target on shares of ServiceNow from $65.00 to $70.00 in a research note on Thursday, July 31st. They now have an “outperform” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of ServiceNow from $75.00 to $78.00 in a research note on Thursday, July 31st. They now have a “positive” rating on the stock.
ServiceNow, Inc is a provider of cloud-based services to automate enterprise information technology (NYSE:NOW) operations.
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