ServiceNow (NYSE: NOW) investment analysts at Citigroup lowered its target price from $ 770.00 to $ 657.00 in a note issued to investors on Thursday, The Fly reports. Citigroup’s price target indicates a potential increase of 26.03% from the company’s previous closure.
Several other analysts have recently released reports on the company. Credit Suisse Group assumed coverage on ServiceNow in a research note on Tuesday, November 16th. They set an “outperform” rating and an $ 850.00 target price for the company. Jefferies Financial Group raised their target price on ServiceNow from $ 675.00 to $ 765.00 and gave the stock a “buy” rating in a research note on Thursday, October 28th. Needham & Company LLC raised their target price on ServiceNow from $ 641.00 to $ 780.00 and gave the stock a “buy” rating in a research note on Monday, November 1st. Oppenheimer raised their target price on ServiceNow from $ 700.00 to $ 775.00 and gave the stock an “outperform” rating in a research note on Friday, October 22nd. Finally, Barclays cut their price target on ServiceNow from $ 791.00 to $ 680.00 in a research report on Wednesday, January 12th. Three analysts rated the stock with a hold rating, twenty-eight gave a buy rating and one assigned a strong buy rating to the stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Buy” and a consensus price target of $ 715.67.
NYSE NOW shares opened at $ 521.29 on Thursday. The 50-day moving average price of the business is $ 626.38 and its two-hundred day moving average price is $ 625.83. The company has a debt-to-equity ratio of 0.42, current ratio of 1.13 and quick ratio of 1.13. ServiceNow has a one -year low of $ 448.27 and a one -year high of $ 707.60. The company has a market capitalization of $ 103.74 billion, a P/E ratio of 478.25, a price-to-earnings-growth ratio of 9.60 and a beta of 1.01.
ServiceNow (NYSE: NOW) last released its earnings results on Wednesday, October 27th. The information technology service provider reported $ 1.55 EPS for the quarter, beating analysts ’consensus estimates of $ 1.39 by $ 0.16. ServiceNow had a return on equity of 9.31% and a net margin of 3.99%. The company had revenue of $ 1.51 billion for the quarter, compared to the agreed -upon estimate of $ 1.48 billion. In the same quarter last year, the company posted $ 0.30 profit per share. Business quarterly revenue rose 31.3% compared to the same quarter last year. On average, equities analysts expect ServiceNow to post 1.39 EPS for the current year.
In related news, Director Frederic B. Luddy sold 15,000 shares of stock in a transaction that took place on Wednesday, January 12th. The stock was sold at an average price of $ 577.36, for a total transaction of $ 8,660,400.00. The transaction was disclosed in a document filed with the SEC, available through the SEC website. Also, CFO Gina Mastantuono sold 66 shares of the stock in a transaction that took place on Tuesday, November 9th. The stock was sold at an average price of $ 695.31, for a total value of $ 45,890.46. The disclosure for this sale can be found here. In the past quarter, insiders sold 24,655 shares of the company’s stock worth $ 15,161,081. Corporate insiders own 0.35% of the company’s stock.
Some hedge funds and other institutional investors have recently increased or decreased their stakes in the stock. Lone Pine Capital LLC strengthened its position on ServiceNow by 67.0% in the 2nd quarter. Lone Pine Capital LLC now owns 2,468,798 shares of the information technology services provider’s stock worth $ 1,356,728,000 after buying an additional 990,073 shares last quarter. Powered by BlackRock Inc. its position in ServiceNow by 4.2% in the 3rd quarter. BlackRock Inc. now owns 16,125,077 shares of the information technology services provider’s stock worth $ 10,034,153,000 after buying an additional 657,340 shares last quarter. WELLCOME TRUST LTD THE as manager of WELLCOME TRUST purchased a new position in ServiceNow in the 2nd quarter worth $ 251,104,000. Powered by Macquarie Group Ltd. its position in ServiceNow by 111.4% in the 2nd quarter. Macquarie Group Ltd. now owns 774,314 shares of the information technology services provider’s stock worth $ 425,524,000 after buying an additional 407,994 shares last quarter. Finally, Nordea Investment Management AB strengthened its position in ServiceNow by 100.0% in the 3rd quarter. Nordea Investment Management AB now owns 790,168 shares of the information technology services provider’s stock worth $ 491,422,000 after buying an additional 395,021 shares last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.
ServiceNow Company Profile
ServiceNow, Inc. is engaged in providing enterprise cloud computing solutions. The company delivers digital workflows on an enterprise cloud platform called Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products. .
See also: Current Ratio
This instant news alert is generated with narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in ServiceNow today?
Before you consider ServiceNow, you’ll want to hear it.
MarketBeat tracks the highest rated and best performing Wall Street research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified five stocks that top analysts are quietly whispering to their clients to buy now before catching up with the broader market … and ServiceNow is not on the list.
While ServiceNow currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See The 5 Stocks Here
.