Raymond James Begins Coverage on ServiceNow (NOW)
Investment analysts at Raymond James initiated coverage on shares of ServiceNow (NYSE:NOW) in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating on the stock.
ServiceNow (NYSE:NOW) opened at 62.85 on Wednesday. ServiceNow has a one year low of $44.17 and a one year high of $71.80. The stock has a 50-day moving average of $57.79 and a 200-day moving average of $57.67. The company’s market cap is $9.157 billion.
ServiceNow (NYSE:NOW) last released its earnings data on Wednesday, July 30th. The company reported ($0.07) EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 62.9% on a year-over-year basis. Analysts expect that ServiceNow will post $-0.08 EPS for the current fiscal year.
A number of other firms have also recently commented on NOW. Analysts at Morgan Stanley initiated coverage on shares of ServiceNow in a research note on Wednesday, August 27th. They set a “buy” rating and a $74.00 price target on the stock. Separately, analysts at DA Davidson initiated coverage on shares of ServiceNow in a research note on Tuesday, August 26th. They set a “buy” rating and a $74.00 price target on the stock. Finally, 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. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $66.96.
In other ServiceNow news, COO Daniel Mcgee sold 50,000 shares of the stock on the open market in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $58.77, for a total transaction of $2,938,500.00. The sale 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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