Zacks: Brokerages Anticipate ServiceNow, Inc. (NYSE:NOW) Will Post Quarterly Sales of $1.77 Billion

Equities analysts predict that ServiceNow, Inc. (NYSE:NOWGet Rating) will report $1.77 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for ServiceNow’s earnings, with estimates ranging from $1.76 billion to $1.80 billion. ServiceNow reported sales of $1.41 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 25.5%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that ServiceNow will report full-year sales of $7.42 billion for the current fiscal year, with estimates ranging from $7.37 billion to $7.45 billion. For the next year, analysts anticipate that the company will post sales of $9.23 billion, with estimates ranging from $9.08 billion to $9.39 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for ServiceNow.

ServiceNow (NYSE:NOWGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The information technology services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. ServiceNow had a net margin of 3.56% and a return on equity of 8.66%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the company earned $0.50 earnings per share. ServiceNow’s quarterly revenue was up 26.6% compared to the same quarter last year.

A number of brokerages recently weighed in on NOW. Deutsche Bank Aktiengesellschaft reduced their price target on shares of ServiceNow from $700.00 to $680.00 in a research report on Thursday, April 28th. Exane BNP Paribas lowered shares of ServiceNow from a “neutral” rating to an “underperform” rating in a research note on Tuesday, March 29th. Morgan Stanley dropped their price objective on shares of ServiceNow from $810.00 to $745.00 in a research note on Thursday, April 28th. BNP Paribas lowered shares of ServiceNow from a “neutral” rating to an “underperform” rating and set a $460.00 price objective on the stock. in a research note on Tuesday, March 29th. Finally, Jefferies Financial Group dropped their price objective on shares of ServiceNow from $765.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, January 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $667.97.

In other ServiceNow news, insider Christopher Bedi sold 647 shares of the company’s stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $564.20, for a total value of $365,037.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Chirantan Jitendra Desai sold 3,000 shares of the company’s stock in a transaction dated Monday, February 14th. The shares were sold at an average price of $578.48, for a total transaction of $1,735,440.00. The disclosure for this sale can be found here. Insiders sold 32,868 shares of company stock worth $18,684,741 in the last ninety days. Insiders own 0.35% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NOW. Chilton Capital Management LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $25,000. Eagle Bay Advisors LLC lifted its stake in shares of ServiceNow by 75.0% during the third quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 18 shares during the period. MV Capital Management Inc. lifted its stake in shares of ServiceNow by 96.2% during the third quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 25 shares during the period. AHL Investment Management Inc. purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $35,000. Finally, Lee Financial Co lifted its stake in shares of ServiceNow by 671.4% during the fourth quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 47 shares during the period. 87.20% of the stock is currently owned by institutional investors and hedge funds.

Shares of NOW opened at $456.74 on Friday. ServiceNow has a 1-year low of $438.12 and a 1-year high of $707.60. The stock has a market cap of $91.56 billion, a PE ratio of 415.22, a price-to-earnings-growth ratio of 9.43 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a fifty day moving average price of $528.72 and a 200 day moving average price of $586.53.

ServiceNow Company Profile (Get Rating)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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