ServiceNow Inc. [NYSE: NOW] the price fell by -2.72 percent to reach -$10.25. The company reported on October 26, 2022 that ServiceNow Reports Third Quarter 2022 Financial Results.
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Subscription revenues of $1,742 million in Q3 2022, representing 22% year-over-year growth, 28.5% adjusted for constant currency.
Total revenues of $1,831 million in Q3 2022, representing 21% year-over-year growth, 27.5% adjusted for constant currency.
A total of 3447203 shares were traded in the recent session while its average daily volume stands at 1.68M shares. Shares of ServiceNow Inc. reached a high of $382.5799 and dropped to a low of $351.00 before ending the most recent session at $366.41.
The one-year NOW stock forecast points to a potential upside of 32.52. The average equity rating for NOW stock is currently 1.80, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on ServiceNow Inc. [NOW]:
Based on careful and factual analyzes by Wall Street experts, the current consensus price target for NOW shares is $542.97 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus on NOW stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on a scale from 1 to 5, where 5 would mean a strong sell, 4 would represent a Sell, 3 would be a Hold, and 2 would indicate a Buy.
Guggenheim made an estimate for shares of ServiceNow Inc., maintaining their opinion on the stock as Buy, with their previous recommendation on October 24, 2022. The new price target note was issued on October 11, 2022 , which represents the official price target for ServiceNow Inc. stock. Previously, the target price had another increase to $553, while MoffettNathanson analysts maintained a Hold rating on NOW stock.
The Average True Range (ATR) for ServiceNow Inc. is set at 17.35, with a Price to Sales ratio for NOW stock during the last 12 months valued at 11.08. The Price to Book ratio for the last quarter was 17.56, where as the Price to Cash per share for the same quarter was set at 19.22. Price to Free Cash Flow for NOW over the course of the last twelve months is 36.16 with a Quick ratio for the last quarter at 1.10.
NOW Stock Performance Analysis:
ServiceNow Inc. [NOW] enter the green zone at the end of last week, becoming a positive trend and having 3.09. With this latest performance, NOW shares are down -3.31% over the past four-week period, in addition to have plunged -21.42% over the past 6 months – not to mention a -45.85% decline over the past year of trading.
Overbought and oversold stocks can be easily traced using the Relative Strength Index (RSI), where an RSI result above 70 will be overbought, and any rate below 30 will indicate oversold conditions. . An RSI rate of 50 represents a neutral market momentum. The current RSI for NOW stock in for the last two-week period is set at 42.66, along with the RSI for the last one single trade hit 45.37, and the three-week RSI is set at 41.85 for ServiceNow Inc. [NOW]. The current Moving Average for the last 50 days of trading for this stock is 412.35, while it was recorded at 365.31 for the last one week of trading, and 481.70 for the last 200 days.
Insights into ServiceNow Inc. Fundamentals:
The Operating Margin for any stock indicates how profitable the investment will be, and ServiceNow Inc. [NOW] shares currently have an operating margin of +4.36 and a Gross Margin of +77.05. ServiceNow Inc.’s Net Margin is currently recorded at +3.90.
Return on Equity for this stock is leaning at 7.04, with Return on Assets sitting at 2.36.
ServiceNow Inc.’s liquidity data. is similarly interestingly compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
NOW Stock EPS
The company’s development can be observed through the prism of the EPS growth rate, while Wall Street analysts focus on predicting the 5-year EPS growth rate for NOW. Coming to the aforementioned value, analysts expect the 5-year EPS growth rate for ServiceNow Inc. will reach 26.54%.
ServiceNow Inc. [NOW] Insider Position Details
There is currently about $65,207 million, or 90.20% of NOW stock, in the hands of institutional investors. The top three institutional holders of NOW stocks are: VANGUARD GROUP INC with ownership of 16,546,784, which is about 1.541% of the company’s market cap and about 0.10% of total institutional ownership; BLACKROCK INC., which holds 16,162,974 shares of stock with an estimated value of $5.92 billion in NOW stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently has $5.14 billion in NOW stock owning about -1.401% of the company’s market capitalization.
Positions in ServiceNow Inc. stocks. held by institutional investors increased at the end of October and during the October reporting period, where 702 institutional holders increased their position in ServiceNow Inc. [NYSE:NOW] of approximately 11,614,563 shares. Additionally, 629 investors reduced positions by approximately 9,260,668 shares, while 168 investors held positions by 157,086,317 shares. The aforementioned changes put institutional holdings at 177,961,548 shares, according to the most recent SEC filing. NOW the stock has 127 new institutional investments for a total of 2,024,798 shares, while 144 institutional investors sold positions of 1,295,806 shares during the same period.