Barclays Raises ServiceNow Price Target to $76.00 (NOW)
Analysts at Barclays upped their price objective on shares of ServiceNow (NYSE:NOW) from $66.00 to $76.00 in a research report issued to clients and investors on Thursday. The firm currently has an “overweight” rating on the stock. Barclays’ price target would indicate a potential upside of 21.13% from the stock’s previous close.
NOW has been the subject of a number of other recent research reports. Analysts at Raymond James initiated coverage on shares of ServiceNow in a research note on Wednesday. They set a “market perform” rating on the stock. Separately, 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. Finally, 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. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $67.49.
ServiceNow (NYSE:NOW) traded down 2.18% on Thursday, hitting $61.37. The stock had a trading volume of 621,372 shares. ServiceNow has a 52-week low of $44.17 and a 52-week high of $71.80. The stock has a 50-day moving average of $57.98 and a 200-day moving average of $57.71. The company’s market cap is $8.942 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 $-0.08 earnings per share for the current fiscal year.
In other ServiceNow news, COO Daniel Mcgee unloaded 50,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $58.77, for a total value of $2,938,500.00. The sale was disclosed in a legal filing 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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