NOW Stock Forecast: The stock is strong to sell
NOW Stock Forecast: Today’s price
| PRICE |
$389 |
| market cap |
$78.2 Billion |
| Quantity |
0.49 Million |
| 1-year target estimate |
$550 |
Service Now’s stock price hit a 52-week low of $389.
NOW Stock Forecast: Latest News
- Servicenow recently launched its “Now platform Tokyo” to help various organizations with their business challenges and also launched many new features on the platform to improve engagement, productivity and customer and employee experiences .
- In addition to the latest innovations such as Enterprise Asset Management, Supplier Lifecycle Management, and ESG Management, it also today introduces new Telecom and Enterprise legal solutions to improve service providers’ communication and legal team operations.
- There was a recent insider selling that happened on September 19th by General Counsel Elmer Russel S sold 2666 shares at an average price of $422.80 with a total of $1.1 Million.
NOW Stock Forecast: Recent Performance
Stock name |
5 days |
1 month |
YTD |
NOW |
-10.3% |
-15.9% |
-38.6% |
NASDAQ |
-6% |
-6.6% |
-15% |
NOW Stock Forecasting: Positive Factors
- High renewal rate and Customer base: The company’s renewal rate is around 99% which shows the customers’ trust in the company’s services and has more than 1400 customers of which 100 customers pay over $10 million.
- High Income: The company is seeing steady growth and performed well in the second quarter with its revenues at $1.75 Billion.
- Rise of remote work and digitalization: With the rise of remote jobs since the pandemic along with increased demand for digital services, the company expects its annual revenue to grow to around $16billion by 2026.
NOW Stock Price Prediction: Short Term Outlook
| Fashion | |
| All in all | |
| 1. Market Wisdom | Marginally Negative |
| 1a. Market Data | Below |
| Quantity | Below |
| Performance vs. NASDAQ (Last 5 days) | Below |
| 1b. Technical | Strong seller |
| 2. Wisdom of the crowd | |
| 2a. Google search | Below |
| 2b. Sentiment on Social Media |
NOW Stock Forecast: Negative Factors
Interest rates: The rise in interest rates over the past year can be seen as a concern.
Recession: Recession fears can also be considered negative
factor
NOW Stock Forecast: Price target
| Overall Average | $550 |
| CNN Money | $550 |
| Tip Ranks | $547 |
| Moffett Nathanson | $553 |
Moffett Nathanson, analyst Jackson Ader started coverage on ServiceNow and has a “hold” rating with a price target of $553.
NOW Stock Forecast: Latest Tweets
$NOW patiently adding to the short position as we go down here. Adding to the swing on green days. Monthly gravestone doji, often followed/confirmed by a bearish engulfing candle. Weekly Bollinger Bands have contracted strongly. Close below the channel and H&S neckline on smaller timeframes
NOW Stock Forecast: Q2 Results
ServiceNow released its 2n.d quarter reports ended June 30th2022.
Its Subscription revenues were $1.6 Billion in Q2 2022, up 25% yearover year.
Its Total revenues were $1.75 Billion in Q2 2022, up 24% yearoveryear growth and up 1.7% quarter-over-quarter.
Its total revenue was $1.36 Billion, up 0.74% qq.
Its operating income was $22 Million which decreased by 74.7% qq while its operating expenses increased by 5.9% from $1.2 Billion to $1.3 Billion.
The company’s earnings per share were $8.72 compared to $8.61 in the previous quarter.
It reported that it crossed 100 customers paying more than $10 million in annual contract value in Q2, up more than 50% yy.
NOW Stock Forecast: Conclusion
ServiceNow is one of the leading companies in the ITSM sector with a great customer base and great management support along with strong financials. The stock price has hit an all-time low this year but analysts are bullish and expect it to rise in the future.
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