Equities analysts predict that ServiceNow, Inc. (NYSE: NOW-Get Rating) will report $ 1.77 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts provided estimates for ServiceNow’s revenues, 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-on-year growth rate of 25.5%. The company is expected to announce next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect ServiceNow to 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 next year, analysts expect the company to 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 providing coverage for ServiceNow.
ServiceNow (NYSE: NOW-Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The information technology service provider reported $ 1.73 revenue per share for the quarter, beating analysts ’consensus estimates of $ 1.70 by $ 0.03. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company had revenue of $ 1.72 billion in the quarter, compared to analysts ’expectations of $ 1.70 billion. In the same period last year, the company earned $ 0.50 profit per share. ServiceNow’s quarterly revenue rose 26.6% compared to the same quarter last year.
Several brokerages have recently weighed in NOW. Deutsche Bank Aktiengesellschaft reduced their target price on ServiceNow shares from $ 700.00 to $ 680.00 in a research report on Thursday, April 28th. Exane BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating in a research note on Tuesday, March 29th. Morgan Stanley lowered their price target on ServiceNow shares from $ 810.00 to $ 745.00 in a research note on Thursday, April 28th. BNP Paribas downgraded ServiceNow shares from a “neutral” rating to an “underperform” rating and set a $ 460.00 price target on the stock. in a research note on Tuesday, March 29th. Finally, Jefferies Financial Group lowered their price target 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 rated the stock with a sell rating, three gave a hold rating and twenty-seven assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average “Buy” rating 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, available on 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 have sold 32,868 shares of the company’s stock worth $ 18,684,741 over the past ninety days. Insiders own 0.35% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions NOW. Chilton Capital Management LLC bought a new position in shares of ServiceNow in the fourth quarter worth approximately $ 25,000. Eagle Bay Advisors LLC raised its stake in shares of ServiceNow by 75.0% in the third quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock worth $ 27,000 after purchasing an additional 18 shares during the period. Lifted by MV Capital Management Inc. its stake in ServiceNow shares was 96.2% in the third quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock worth $ 32,000 after purchasing an additional 25 shares during the period. AHL Investment Management Inc. bought a new position in shares of ServiceNow in the fourth quarter worth approximately $ 35,000. Finally, Lee Financial Co raised its stake in ServiceNow shares by 671.4% in the fourth quarter. Lee Financial Co. now owns 54 shares of the information technology services provider’s stock worth $ 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.
NOW shares 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, current ratio of 1.12 and quick ratio of 1.12. The company has a fifty day average turnover price of $ 528.72 and a 200 day average turnover price of $ 586.53.
ServiceNow Company Profile (Get a Rating)
ServiceNow, Inc. provides enterprise cloud computing solutions that define, develop, integrate, manage, and automate services for businesses around the world. It runs 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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