Several analysts have recently updated their ratings and price targets for ServiceNow (NYSE: NOW):

  • 7/14/2017 – ServiceNow was downgraded by analysts at OTR Global to a “positive” rating.
  • 7/11/2017 – ServiceNow was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “ServiceNow is rapidly penetrating the non-ITSM markets like customer service, human resource and security. The company is benefiting from growing adoption of its platform and tools in the Global 2000 (G2K) companies, as defined by Forbes. We believe that the company’s expanding product portfolio, increasing multi-product customer base and strong renewal rate will help the company easily achieve its long-term revenue growth target of $4 billion. ServiceNow has outperformed the Zacks categorised IT services industry on a year-to-date basis. Estimates have been stable lately ahead of the company's Q2 earnings release. The company has a negative record of earnings surprises in recent quarters. However, stiff competition in the non-ITSM market and modest growth at professional business service segment are major concerns. Moreover, the company is yet to report profit, which doesn’t augur well for investor confidence.”
  • 6/28/2017 – ServiceNow had its “outperform” rating reaffirmed by analysts at Sanford C. Bernstein. They now have a $141.00 price target on the stock.
  • 6/27/2017 – ServiceNow was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “ServiceNow is rapidly penetrating the non-ITSM markets like customer service, human resource and security. The company is benefiting from growing adoption of its platform and tools in the Global 2000 (G2K) companies, as defined by Forbes. Its non-G2K customer base is also growing fast. We believe that the company’s expanding product portfolio, increasing multi-product customer base and strong renewal rate will help the company easily achieve its long-term revenue growth target of $4 billion. ServiceNow has outperformed the Zacks categorised IT services industry on a year-to-date basis. However, stiff competition in the non-ITSM market and modest growth at professional business service segment are major concerns. Moreover, the company is yet to report profit, which doesn’t augur well for investor confidence.”
  • 6/27/2017 – ServiceNow was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/23/2017 – ServiceNow is now covered by analysts at J P Morgan Chase & Co. They set an “overweight” rating and a $125.00 price target on the stock.
  • 6/21/2017 – ServiceNow was downgraded by analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating.
  • 6/14/2017 – ServiceNow was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/6/2017 – ServiceNow is now covered by analysts at Stifel Nicolaus. They set a “buy” rating on the stock.
  • 6/5/2017 – ServiceNow had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $115.00 price target on the stock, up previously from $107.00.
  • 6/2/2017 – ServiceNow was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 5/29/2017 – ServiceNow had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $110.00 price target on the stock.
  • 5/25/2017 – ServiceNow is now covered by analysts at Stephens. They set an “overweight” rating and a $120.00 price target on the stock.
  • 5/24/2017 – ServiceNow is now covered by analysts at Sanford C. Bernstein. They set an “outperform” rating and a $120.00 price target on the stock.

ServiceNow, Inc. (NYSE NOW) opened at 110.00 on Tuesday. ServiceNow, Inc. has a 52-week low of $69.63 and a 52-week high of $113.01. The stock’s 50 day moving average is $103.78 and its 200-day moving average is $90.97. The company’s market capitalization is $18.67 billion.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 26th. The information technology services provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by $0.02. ServiceNow had a negative net margin of 10.60% and a negative return on equity of 31.34%. The company had revenue of $416.80 million for the quarter, compared to analysts’ expectations of $409.26 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. Analysts predict that ServiceNow, Inc. will post $1.17 EPS for the current fiscal year.

In other ServiceNow news, CRO David Schneider sold 2,243 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $97.04, for a total transaction of $217,660.72. Following the completion of the sale, the executive now directly owns 47,654 shares of the company’s stock, valued at $4,624,344.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John J. Donahoe bought 11,236 shares of ServiceNow stock in a transaction on Tuesday, May 9th. The shares were acquired at an average cost of $98.05 per share, with a total value of $1,101,689.80. Following the completion of the acquisition, the insider now owns 5,618 shares of the company’s stock, valued at approximately $550,844.90. The disclosure for this purchase can be found here. Insiders have sold 427,673 shares of company stock valued at $44,249,646 over the last three months. 3.30% of the stock is owned by corporate insiders.

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

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