The price of ServiceNow Inc. (NYSE: NOW) closed lower on Tuesday, May 24, down -2.43% below its previous close.
A look at the daily price movement shows that the last close read $ 430.12, with intraday deals fluctuating between $ 411.04 and $ 430.11. The company’s 5Y monthly beta reached 1.04 while its P/E ratio in the following 12-month period read 381.85. Considering the 52-week price action, we notice that the stock has hit a 52-week high of $ 707.60 and a 52-week low of $ 406.47. The stock declined -11.14% in its value in the previous month.
ServiceNow Inc., with a market valuation of $ 82.91 billion, is expected to release its quarterly earnings report Apr 26, 2022 – May 02, 2022. Analysts tracking NOW expect quarterly EPS to grow 1.56 per share this quarter, while both analysts predict annual EPS to reach $ 7.33 for the year 2022 and up to $ 9.33 for 2023. In this case, analysts estimate annual EPS growth of 23.80% for the year and 27.30% for the next. that year.
On average, analysts forecast the company’s revenue for the quarter will reach $ 1.77 billion, with a likely low of $ 1.67 billion and a high of $ 1.8 billion. Staying in the analyst’s view, there is a consensus estimate of $ 7.41 billion for the company’s annual revenue in 2022. According to this projection, revenue is estimated to grow by 25.70% more than the company brought in 2022.
The changes in the company’s EPS highlight a short-term direction of a stock’s price movement, which over the past 7 days has come out with no upside and no downside reviews. On the technical outlook front, the indicators NOW provide a short -term outlook that is 100% Sell on average. Looking at the medium term stock indicators, we will notice that it averages as 100% Sell, while the long term indicator average currently designates the stock as 100% Sell.
Here’s a look at the analyst’s average rating for the stock represented on a scale of 1.00 to 5.00, with extremes of 1.00 and 5.00 suggesting that the stock is strong buy or strong sell respectively. Specifically, 31 analysts assigned NOW a recommendation rating as follows: 1 rate it as a Hold; 28 advise Buy while 1 analyst (s) assigns an Overweight rating. 0 analyst (s) tagged ServiceNow Inc. stock. (NOW) as Underweight, with 1 recommending Sell. Overall, analysts rated the stock Buy, a scenario that is likely to bolster investors for an opportunity to add to their holdings of the company’s shares.
If we dive deeper into the stock’s performance, we will see the positive picture represented by the PEG ratio, which currently stands at 14.29. The overview shows that the NOW price is currently -7.04% from SMA20 and -16.64% from SMA50. The Relative Strength Index (RSI) metric in the 14-day timeframe points to 38.96, with weekly volatility standing at 5.43%. The indicator jumped to 5.97% when calculated based on the past 30 days. The beta value of ServiceNow Inc. (NYSE: NOW) is at 1.12, while the average true range (ATR) indicator currently reads 25.97. Considering that analysts have assigned the stock a target price range of $ 550.00- $ 752.00 as low and high respectively, we find that the following 12-month average consensus target price is $ 649.84. Based on this estimate, we see that the current price is approximately -31.06% from the estimated low and -79.2% from the estimated high. No doubt investors will be excited to see the share price drop to $ 650.00, which is the median consensus price, and at that level NOW will be -54.89% from the current price.
Paying attention to how ServiceNow Inc’s stock performed. compared to its peers in the industry, here’s what we found: NOW’s stock was -2.43% on the day and -12.55% over the past 12 months, while Salesforce Inc. (CRM) traded -2.11% in the last session and positioned -31.08% down from its price 12 months ago. Another comparison is with Oracle Corporation (ORCL) whose stock price dropped -1.44% in the last trading session, and grew -12.43% in the previous year. Also, Synopsys Inc. (SNPS) showed a downward trend of -3.46% while its price remained floating at 15.85% over the previous year. For ServiceNow Inc., the P/E ratio is at 381.85 which is higher than Salesforce Inc. at 104.55 and Oracle Corporation’s 26.46. Elsewhere in the market, the S&P 500 Index stumbled -0.81% in the last trading session, where the Dow Jones Industrial also saw a positive session on the day with 0.15%.
ServiceNow Inc. stock analysis. (NYSE: NOW) in terms of its daily trading volume indicates that the 3-month average is 1.68 million. However, this number has risen over the past 10 days timeline to an average of 1.97 million.
Current records show that the company has 200.09M in the rest. The percentage of insiders holdings is 0.10% of the rest while the percentage share held by institutions is at 90.10%. Statistics also feature that short interest on Apr 28, 2022, was at 3.61 million shares, putting the short ratio at that time at 2.18. From this we can derive that the short interest is 1.80% of the current rest of the company. Interestingly, we see that shares rose slightly in April as last month’s number was at 3.26 million. But the -35.35% downside, the stock price registered year-to-date as of last trade, is likely to re-ignite investor interest due to the prospect that it will rally higher.
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