Why ShareNows Are Doing More Business Today

ServiceNow Inc (NYSE: NOW) traded higher on Thursday morning after the company announced better -than -expected fourth -quarter financial results.

ServiceNow reported quarterly revenue of $ 1.46 per share, which is more than the $ 1.43 estimate. The company reported quarterly revenue of $ 1.61 billion, which is more than the estimated $ 1.6 billion.

“Customer demand for the innovative ServiceNow platform is stronger than ever,” he said Bill McDermott, president and CEO of ServiceNow. “We’re growing like a fast -acting startup with the profitability of a global market leader.”

Analyst Analysis: Several analyst firms weighed in on the stock following ServiceNow’s quarterly results:

• Piper Sandler analyst Rob Owens upgraded ServiceNow from a Neutral rating to an Overweight rating.
• Barclays analyst Raimo Lenschow maintained ServiceNow with an Overweight rating and lowered the price target from $ 680 to $ 652.
• Credit Suisse analyst Phil Winslow maintained ServiceNow with an Outperform rating and lowered the price target from $ 850 to $ 800.
• Mizuho analyst Gregg Moskowitz maintained ServiceNow with a Buy rating and raised the price target from $ 615 to $ 650.
• Oppenheimer analyst Ray McDonough maintained ServiceNow with an Outperform rating and lowered the price target from $ 775 to $ 660.
• Morgan Stanley maintained ServiceNow with an Overweight rating and raised the price target from $ 807 to $ 810.

ServiceNow provides software solutions to build and automate various business processes through the SaaS delivery model.

See also: Why Xilinx Shares Are Rising Now

NOW Price Action: ServiceNow traded as low as $ 448.27 and as high as $ 707.60 over the 52-week period.

The stock was up 12.3% to $ 543.31 at the time of publication.

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