The Zacks report stated that analysts predict that ServiceNow, Inc. (NYSE:NOW) sales this fiscal quarter will reach 1.48 billion U.S. dollars. Eight analysts estimated ServiceNow’s earnings, with the lowest estimated sales of $1.47 billion and the highest estimate of $1.48 billion. ServiceNow reported sales of $1.15 billion in the same quarter last year, an increase of 28.7% year-on-year. The company is expected to announce its next quarterly earnings report on Wednesday, October 27.
On average, analysts expect ServiceNow to report full-year sales of $5.83 billion this year, which is estimated to be between $5.82 billion and $5.84 billion. For the next fiscal year, analysts expect the company’s sales to reach 7.28 billion U.S. dollars, which is estimated to be between 7.19 billion U.S. dollars and 7.38 billion U.S. dollars. Zacks’ sales calculations are based on averages surveyed by ServiceNow analysts.
ServiceNow (NYSE: NOW) last released its quarterly earnings results on Wednesday, July 28. The information technology service provider reported earnings per share (EPS) of US$1.42 for the quarter, which was US$1.26 higher than the Thomson Reuters consensus estimate of US$0.16. ServiceNow’s net profit margin is 3.30%, and the return on equity is 9.10%.
Several stock analysts recently released reports on the stock. Zacks Investment Research downgraded ServiceNow’s stock rating from a “strong buy” rating to a “hold” rating and set a target price of $614.00 for the company. In a report on Tuesday, August 3. Wolfe Research lowered ServiceNow’s price target from $675.00 to $600.00 and rated the stock as “outperform” in a report on Friday, June 4. In a research report on Thursday, July 29, Truist raised the target price of ServiceNow from $575.00 to $640.00 and gave the company a “buy” rating. In a research report on Thursday, July 29, Robert W. Baird raised the target price of ServiceNow from $340.00 to $390.00 and gave the company a “outperform” rating. Finally, Cowen raised ServiceNow’s target price from US$620.00 to US$670.00, and gave the company a “Outperform” rating in a research report on Thursday, July 29. Two analysts have a hold rating on the stock, 29 analysts have issued a buy rating, and one analyst has a strong buy rating on the company’s stock. According to MarketBeat’s data, the company’s current consensus rating is “Buy” and the consensus target price is $641.90.
The opening price on Thursday is now $653.80. The company has a market capitalization of US$129.52 billion, a P/E ratio of 778.34, a P/E ratio of 16.89, and a beta of 0.92. The company’s 50-day moving average is $592.82, and its 200-day moving average is $535.52. ServiceNow’s 52-week low was US$439.76 and the 52-week high was US$681.10. The company’s quick ratio is 1.08, current ratio is 1.08, and debt-to-equity ratio is 0.45.
In related news, director Anita M. Sands sold 811 company shares in a transaction on Thursday, June 17. The stock was sold at an average price of US$505.80, with a total trading volume of US$410,203.80. After the transaction is completed, the directors now directly own 7,008 shares of the company with a value of US$3,544,646.40. The transaction has been disclosed in a document submitted to the US Securities and Exchange Commission, which can be accessed through this hyperlink. In addition, director Susan L. Bostrom sold 4,500 shares of the company in a transaction on Tuesday, August 3. The shares were sold at an average price of US$461.40, with a total trading volume of US$2,076,300.00. After the transaction is completed, the directors now own 1,780 shares of the company, valued at US$821,292. The disclosure of this sale can be found here. In the past three months, insiders sold 33,307 shares of the company’s shares worth $18,417,272. The company insiders currently own 0.35% of the stock.
Many large investors have recently bought and sold NOW stock. OLD Second National Bank of Aurora purchased new shares of ServiceNow stock in the first quarter, valued at approximately $25,000. Manchester Financial Corporation increased its stake in ServiceNow by 685.7% in the first quarter. During this period, Manchester Financial Inc. now owns 55 shares of this information technology service provider, valued at $28,000, and has purchased 48 additional shares during this period. Selective Wealth Management Inc. purchased approximately $30,000 worth of new shares in ServiceNow in the second quarter. Wolverine Asset Management LLC increased its stake in ServiceNow by 1,160.0% in the first quarter. During this period, Wolverine Asset Management LLC now owns 63 shares of this information technology service provider, valued at $31,000, and has purchased 58 additional shares during this period. Finally, SRS Capital Advisors Inc. purchased approximately $33,000 in new ServiceNow shares in the second quarter. Institutional investors hold 79.99% of the company’s shares.
About current service
ServiceNow, Inc is engaged in providing enterprise cloud computing solutions. The company provides digital workflows on a single enterprise cloud platform called Now Platform. Its product portfolio focuses on providing information technology, employee and customer workflows. It provides solutions for industries such as government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer goods.
Further reading: What is the Beige Book?
Get a free copy of the Zacks Research Report on ServiceNow (NOW)
For more information on Zacks Investment Research’s research products, please visit Zacks.com
This instant news alert is generated by MarketBeat’s narrative science and technology and financial data, and aims to provide readers with the fastest and most accurate reports. This story was reviewed by the editorial team of MarketBeat before it was published.Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in ServiceNow now?
Before you consider ServiceNow, you will want to hear about this.
MarketBeat tracks the top and best performing research analysts on Wall Street and the stocks they recommend to customers every day. MarketBeat has identified five stocks that top analysts quietly told their customers to buy now before the market became popular… and ServiceNow is not on the list.
Although ServiceNow is currently rated as “Buy” among analysts, analysts with the highest ratings believe these five stocks are better buys.
View 5 stocks here
.
#ServiceNow #NYSE #sales #quarter #expected #billion #dollars
More from Source