Analysts expect that ServiceNow Inc (NYSE:NOW) will post sales of $717.25 million for the current quarter, Zacks Investment Research reports. Thirteen analysts have made estimates for ServiceNow’s earnings, with estimates ranging from $710.90 million to $723.00 million. ServiceNow reported sales of $546.37 million during the same quarter last year, which would indicate a positive year over year growth rate of 31.3%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, January 30th.
On average, analysts expect that ServiceNow will report full-year sales of $2.61 billion for the current year, with estimates ranging from $2.60 billion to $2.62 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.36 billion, with estimates ranging from $3.30 billion to $3.40 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow ServiceNow.
ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 24th. The information technology services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.61. ServiceNow had a negative return on equity of 2.93% and a negative net margin of 2.52%. The firm had revenue of $673.10 million for the quarter, compared to analysts’ expectations of $659.41 million.
A number of brokerages have recently commented on NOW. Barclays lifted their price target on ServiceNow from $198.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. Morgan Stanley cut their price objective on ServiceNow from $198.00 to $188.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 23rd. Jefferies Financial Group started coverage on ServiceNow in a report on Monday, October 1st. They issued a “buy” rating and a $240.00 target price for the company. Macquarie set a $210.00 target price on ServiceNow and gave the stock a “buy” rating in a report on Friday, October 12th. Finally, Needham & Company LLC began coverage on ServiceNow in a report on Monday, October 22nd. They set a “buy” rating and a $224.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $203.44.
In related news, insider Chirantan Jitendra Desai sold 2,031 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $199.84, for a total value of $405,875.04. Following the transaction, the insider now directly owns 7,174 shares of the company’s stock, valued at approximately $1,433,652.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Scarpelli sold 39,827 shares of the stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $179.09, for a total value of $7,132,617.43. Following the sale, the insider now directly owns 75,341 shares in the company, valued at $13,492,819.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 212,718 shares of company stock valued at $37,324,308. 1.60% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Stratos Wealth Partners LTD. purchased a new position in ServiceNow in the 3rd quarter valued at about $101,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of ServiceNow during the 3rd quarter worth approximately $117,000. Valeo Financial Advisors LLC increased its holdings in shares of ServiceNow by 89.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 931 shares of the information technology services provider’s stock worth $169,000 after buying an additional 440 shares during the last quarter. Chevy Chase Trust Holdings Inc. acquired a new stake in ServiceNow in the 2nd quarter valued at approximately $204,000. Finally, Honkamp Krueger Financial Services Inc. acquired a new stake in ServiceNow in the 3rd quarter valued at approximately $207,000. 94.10% of the stock is currently owned by institutional investors and hedge funds.
NYSE:NOW opened at $182.38 on Friday. The stock has a market capitalization of $32.43 billion, a P/E ratio of -173.70, a price-to-earnings-growth ratio of 33.21 and a beta of 1.28. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. ServiceNow has a twelve month low of $120.16 and a twelve month high of $206.29.
ServiceNow Company Profile
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.
See Also: What is a bull market?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.