There is no doubt that ServiceNow is one of the fastest growing software companies. What is particularly impressive is that so far, Californians have exceeded expectations almost every quarter. Analysts also rewarded this.
Morgan Stanley analyst Keith Weiss upgraded ServiceNow’s stock rating from “Overweigth” to “Overweigth” and raised its price target from $559 to $652. Experts believe that ServiceNow will continue to grow at an average rate of 25% every year due to its positioning in the field of workflow management and automation. Weiss also emphasized that the free inflow of funds exceeds 30%. Given these key data, ServiceNow’s ratings continue to be attractive.
Other analysts are also bullish
In general, most analysts are still bullish. A total of 27 analysts recommended buying the stock. Five analysts gave reservation recommendations, and only two analysts rated the paper as “sell.”
From the technical chart, ServiceNow stock needs to break the short-term sideways trend and break the previous high of $537.53. Then, the method is very clear, marking the next round as $600. Shareholders believe that the bulls will be able to do this soon, and recommend that profits should be lost. Newcomers use.
Explanation of possible conflicts of interest:
The author Emil Jusifov directly holds a position in the following financial instruments mentioned in the publication or related derivatives that can benefit from any resulting price increase: ServiceNow.
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