Software provider ServiceNow’s share has risen by nearly 30% since its revised low, and is moving towards its previous high of $598.37. Next week (July 28), the cloud experts presented the business data for the just-concluded second quarter. Shareholders show what investors can expect.
according to Bloomberg Experts assume that sales will increase by an average of 26% to $1.72 billion. Of this, $1.3 billion should be included in subscription revenue. Earnings per share are expected to increase by 39% to US$1.67. The net profit margin should be 20%.
Before the data is released, most analysts are still optimistic about the stock. Among them, 29 experts suggested buying stocks and 4 holding stocks. There is no sales suggestion. The average target price is US$611.24.
Mizuho’s expert Gregg Moskowitz is more optimistic and raised his target price for the paper from US$590 to US$640. Moskowitz is still very optimistic about the software industry in general, but it is recommended to buy selectively. His favorites are ServiceNow and Atlassian.
Shareholders are still optimistic about value. The company can still point to a clear double-digit growth rate and is increasingly expanding into other areas outside of its core business. It should only be a matter of time before the previous historical high is broken. Let the profits run.
Notes on possible conflicts of interest:
The author Emil Jusifov directly holds the position of the following financial instruments mentioned in the publication or related derivatives that benefit from any price development caused by the publication: ServiceNow.
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