ServiceNow is one of the most successful and fastest growing technology companies today. Californians exceed expectations every quarter, again bringing surprises to the market. For many years, the share actually only knew one direction: a sharp rise. Now, the cloud expert’s paper has broken a new record.
In regular trading on Friday, the cloud provider’s offer hit a record high of $510.88, triggering a new buy signal. Since the beginning of the year, prices have risen by a full 82%. This has even reached about 115% since the crown ebb. Obviously, the bulls are still in a trigger state, and the turbulent overall market situation did not impress them.
At the same time, Barclays Bank has raised the target price of ServiceNow from US$400 to US$581 and maintained its rating at “overweight.” Overall, most analysts are still bullish. A total of 25 analysts recommended buying the stock. Six analysts gave reservations, and only two analysts rated the paper as “sell”.
Shareholders are still optimistic about ServiceNow stock and recommend investors to stick to it. Even newcomers can use it. Since shareholder recommendation, the share has increased by approximately 21%.
Explanation of possible conflicts of interest:
The author Emil Jusifov directly took a position on the following financial instruments mentioned in the publication or related derivatives that could benefit from any resulting price increases: ServiceNow.
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