Shares of ServiceNow, Inc. (NYSE:NOW) have garnered a “Moderate Buy” consensus recommendation from twenty-seven ratings firms, according to Marketbeat.com. Among these firms, one analyst has given a sell rating, two have assigned a hold rating, and twenty-four have provided a buy rating for the company. The average twelve-month price target, based on reports issued in the past year, stands at $923.00.
Recent reports from various research firms have shed light on ServiceNow’s performance. Barclays, for instance, raised its price objective from $890.00 to $980.00 and labeled the company as “overweight” in a research report on October 11th. Mizuho also increased its price target to $980.00 and gave ServiceNow an “outperform” rating on October 17th. Truist Financial, on the other hand, maintained a “hold” rating and raised its price objective from $750.00 to $780.00 on July 25th. Wells Fargo & Company and Deutsche Bank Aktiengesellschaft both raised their price targets, with Wells Fargo increasing it from $935.00 to $1,025.00 and Deutsche Bank from $875.00 to $900.00.
Institutional investors have shown interest in ServiceNow, with several large investors modifying their holdings in the company. First Affirmative Financial Network increased its position by 1.4% during the third quarter, while Morling Financial Advisors LLC raised its holdings by 2.5% in the second quarter. CX Institutional and Optas LLC also added to their positions, with CX Institutional now owning 1,089 shares and Optas LLC holding 815 shares. Cedar Wealth Management LLC increased its stake by 5.5% during the first quarter.
ServiceNow’s stock opened at $918.34 on Tuesday, experiencing a 0.4% decrease. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12, and a current ratio of 1.12. With a market capitalization of $188.26 billion, ServiceNow has a PE ratio of 98.22 and a beta of 0.99. Its fifty-day simple moving average stands at $876.85, while the two-hundred-day simple moving average is $793.35. The stock’s 52-week range spans from $527.24 to $949.59.
ServiceNow reported its earnings results on July 24th, surpassing expectations with earnings per share (EPS) of $3.13 for the quarter, compared to the consensus estimate of $2.85. The company’s return on equity was 14.52%, and its net margin stood at 11.51%. ServiceNow generated $2.63 billion in revenue during the quarter, exceeding analysts’ expectations of $2.61 billion. In the same quarter last year, the company posted earnings per share of $0.77, indicating a significant year-over-year revenue increase of 22.2%.
Analysts predict that ServiceNow will post an EPS of 6.78 for the current fiscal year.