Cantor Fitzgerald Forecasts Strong Price Appreciation for ServiceNow (NYSE:NOW) Stock

ServiceNow (NYSE:NOW) had its price objective hoisted by stock analysts at Cantor Fitzgerald from $122.00 to $141.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 38.18% from the company’s current price.

NOW has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their price target on ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Sanford C. Bernstein restated an “outperform” rating on shares of ServiceNow in a research report on Monday, June 29th. Stifel Nicolaus cut their price objective on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Barclays reiterated an “overweight” rating and issued a $134.00 target price (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 target price on shares of ServiceNow in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $139.12.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $102.04 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow has a 52 week low of $81.24 and a 52 week high of $210.20. The firm has a market cap of $105.20 billion, a PE ratio of 60.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.96. The firm’s fifty day moving average is $104.50 and its 200-day moving average is $108.56.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. Sell-side analysts predict that ServiceNow will post 2.33 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 28,071 shares of company stock worth $2,529,956. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Institutional investors have recently made changes to their positions in the stock. Wealth Watch Advisors INC bought a new stake in shares of ServiceNow during the third quarter valued at approximately $29,000. Kelleher Financial Advisors bought a new stake in ServiceNow during the 3rd quarter valued at $50,000. Pin Oak Investment Advisors Inc. increased its stake in ServiceNow by 20.7% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 23 shares in the last quarter. Jupiter Wealth Management LLC acquired a new position in ServiceNow during the second quarter worth $154,000. Finally, CBIZ Investment Advisory Services LLC raised its holdings in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Jefferies expects ServiceNow to deliver solid second-quarter results, with subscription revenue and cRPO likely coming in above guidance. The firm also sees a possible raise to full-year subscription revenue guidance, supported by strong execution, early contract renewals, and AI-related demand. Article Title
• Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 and kept an overweight rating, signaling confidence in upside if earnings and guidance remain strong. Article Title
• Positive Sentiment: Morgan Stanley said software sentiment has become “too negative” and named top picks in the sector, reinforcing the idea that high-quality software names like ServiceNow could rebound if the market mood improves. Article Title
• Neutral Sentiment: ServiceNow is in the spotlight ahead of earnings, with mixed analyst views and a bearish technical setup adding uncertainty into the report. Article Title
• Neutral Sentiment: ServiceNow is expected to report after the market close on July 22, and several articles frame the stock as a high-stakes earnings setup rather than a clear fundamental change. Article Title
• Negative Sentiment: CLSA initiated coverage with a bearish view, which has added pressure ahead of earnings and contributed to cautious investor sentiment around the name. Article Title
• Negative Sentiment: A separate security report said a critical ServiceNow code-execution flaw is being exploited in attacks, which could create near-term reputational and security concerns for the company. Article Title

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.