Even before the quarterly data was released on Wednesday, ServiceNow’s share rose to a record high. Since the beginning of this year, the number of papers by cloud experts has increased by about 50%. DERAKTIONÄR shows what data the company must provide now to convince analysts and shareholders.
Quarterly data is imminent
On Wednesday, July 30, 2020, cloud expert Servicenow will open its books in a few hours. The quarterly figures will show whether the strong price increases since the beginning of the year are justified. It is important to exceed these expectations:
Regular visitor to the news agency Bloomberg Analysts surveyed on average expect the company’s second-quarter turnover to be 1.05 billion US dollars and EBITDA to 304 million US dollars. The bottom line is adjusted net income of $179.3 million. Analysts expect earnings per share to be $1.01.
If the company successfully exceeds these estimates, it may further accelerate the upward trend established since April. Even before the release of the quarterly figures, the stock was able to overcome the resistance level of $425 and climbed to a record high of $454.69. From a technical chart perspective, this is a strong buy signal.
Shareholders still believe that ServiceNow has huge long-term potential, but it currently depends on quarterly data. Those who have already invested will not give up. However, the novice will wait for the Q number to avoid any annoying surprises.
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