ServiceNow (NOW) – Investment Analysts’ Weekly Ratings Changes

ServiceNow (NYSE: NOW) has recently received a number of price target changes and ratings updates:

  • 5/10/2022 – ServiceNow had its price target lowered by analysts at Truist Financial Co. from $700.00 to $600.00.
  • 4/28/2022 – ServiceNow had its price target lowered by analysts at Cowen Inc. from $725.00 to $695.00.
  • 4/28/2022 – ServiceNow had its price target lowered by analysts at Morgan Stanley from $810.00 to $745.00.
  • 4/28/2022 – ServiceNow had its price target lowered by analysts at Oppenheimer Holdings Inc. from $660.00 to $600.00.
  • 4/28/2022 – ServiceNow had its price target lowered by analysts at Credit Suisse Group AG from $800.00 to $700.00.
  • 4/28/2022 – ServiceNow had its price target lowered by analysts at Cowen Inc from $725.00 to $695.00.
  • 4/28/2022 – ServiceNow had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $700.00 to $680.00.
  • 4/28/2022 – ServiceNow had its price target lowered by analysts at Barclays PLC from $652.00 to $613.00.
  • 4/28/2022 – ServiceNow had its price target raised by analysts at Citigroup Inc. from $623.00 to $656.00.
  • 4/27/2022 – ServiceNow had its price target lowered by analysts at BMO Capital Markets from $635.00 to $570.00.
  • 4/26/2022 – ServiceNow was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 4/25/2022 – ServiceNow had its price target lowered by analysts at KeyCorp from $692.00 to $613.00. They now have an “overweight” rating on the stock.
  • 4/25/2022 – ServiceNow had its price target lowered by analysts at Royal Bank of Canada from $700.00 to $660.00. They now have an “outperform” rating on the stock.
  • 4/19/2022 – ServiceNow had its price target lowered by analysts at Citigroup Inc. from $675.00 to $623.00. They now have a “buy” rating on the stock.
  • 3/31/2022 – ServiceNow is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/29/2022 – ServiceNow was downgraded by analysts at Exane BNP Paribas from a “neutral” rating to an “underperform” rating.
  • 3/29/2022 – ServiceNow was downgraded by analysts at BNP Paribas from a “neutral” rating to an “underperform” rating. They now have a $460.00 price target on the stock.

Shares of NOW stock opened at $432.32 on Wednesday. The business’s 50 day moving average is $522.72 and its two-hundred day moving average is $582.27. ServiceNow, Inc. has a twelve month low of $416.56 and a twelve month high of $707.60. The company has a market capitalization of $86.66 billion, a P/E ratio of 393.02, a price-to-earnings-growth ratio of 8.94 and a beta of 1.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37.

ServiceNow (NYSE:NOWGet Rating) last announced its earnings results on Wednesday, April 27th. The information technology services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.03. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the business posted $0.50 EPS. The company’s revenue was up 26.6% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 1.8 earnings per share for the current fiscal year.

In other news, insider Jacqueline P. Canney sold 580 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $431.51, for a total value of $250,275.80. Following the completion of the sale, the insider now directly owns 189 shares of the company’s stock, valued at approximately $81,555.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Bedi sold 158 shares of the firm’s stock in a transaction that occurred on Monday, February 14th. The shares were sold at an average price of $578.87, for a total value of $91,461.46. The disclosure for this sale can be found here. Insiders sold a total of 22,007 shares of company stock worth $12,332,620 over the last quarter. Company insiders own 0.35% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of NOW. Morgan Stanley lifted its holdings in shares of ServiceNow by 1.2% in the 2nd quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider’s stock valued at $3,999,292,000 after buying an additional 86,441 shares during the period. New World Advisors LLC acquired a new position in ServiceNow during the third quarter worth $350,000. First Horizon Advisors Inc. raised its holdings in ServiceNow by 393.5% during the third quarter. First Horizon Advisors Inc. now owns 2,497 shares of the information technology services provider’s stock worth $598,000 after purchasing an additional 1,991 shares during the last quarter. Graypoint LLC acquired a new position in ServiceNow during the third quarter worth $365,000. Finally, Morse Asset Management Inc raised its holdings in ServiceNow by 40.4% during the third quarter. Morse Asset Management Inc now owns 1,615 shares of the information technology services provider’s stock worth $1,005,000 after purchasing an additional 465 shares during the last quarter. 87.20% of the stock is owned by institutional investors and hedge funds.

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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