Wall Street analysts expect ServiceNow, Inc. (NYSE: NOW) will announce $ 1.70 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts released estimates for ServiceNow’s revenues, with the highest estimate of sales coming in at $ 1.71 billion and the lowest estimate coming in at $ 1.68 billion. ServiceNow posted sales of $ 1.36 billion in the same quarter last year, suggesting a positive year-on-year growth rate of 25%. The business is expected to release its next earnings results on Wednesday, April 27th.
On average, analysts expect ServiceNow to report full-year sales of $ 7.40 billion for the current year, with estimates ranging from $ 7.36 billion to $ 7.42 billion. For the next financial year, analysts expect the company to report sales of $ 9.20 billion, with estimates ranging from $ 9.08 billion to $ 9.29 billion. Zacks’s sales calculations are an average based on a survey of seller -side research analysts covering ServiceNow.
ServiceNow (NYSE: NOW) last posted its earnings results on Wednesday, January 26th. The information technology service provider reported $ 1.46 earnings per share (EPS) for the quarter, ahead of the consensus estimate of $ 1.43 of $ 0.03. ServiceNow had a return on equity of 9.43% and a net margin of 3.90%. In the same quarter last year, the business earned $ 0.16 revenue per share.
Several research companies commented recently on NOW. Oppenheimer lowered their price target on ServiceNow from $ 775.00 to $ 660.00 and set an “outperform” rating for the company in a research report on Thursday, January 27th. Truist Financial raised their target price on ServiceNow from $ 640.00 to $ 700.00 and gave the stock a “buy” rating in a research report on Thursday, October 28th. Stifel Nicolaus raised their target price on ServiceNow from $ 650.00 to $ 725.00 and gave the stock a “buy” rating in a research report on Thursday, October 28th. UBS Group raised their price target on ServiceNow from $ 650.00 to $ 716.00 and gave the company a “buy” rating in a report on Thursday, October 28th. Finally, Cowen raised their target price on ServiceNow from $ 670.00 to $ 725.00 and gave the company an “outperform” rating in a report on Thursday, October 28th. Two investment analysts rated the stock with a hold rating and twenty-eight gave the stock a buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $ 694.07.
NOW opened at $ 583.72 on Monday. ServiceNow has a 52 week low of $ 448.27 and a 52 week high of $ 707.60. The business has a fifty-day simple moving average of $ 592.42 and a 200-day simple moving average of $ 625.20. The company has a market cap of $ 116.74 billion, a P/E ratio of 512.04, a P/E/G ratio of 10.36 and a beta of 1.01. The company has a fast ratio of 1.13, a current ratio of 1.05 and a debt-to-equity ratio of 0.40.
In other ServiceNow news, insider Christopher Bedi sold 647 shares of the company’s stock in a transaction on Tuesday, February 8th. The stock was sold at an average price of $ 564.20, for a total value of $ 365,037.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, available on the SEC website. Also, General Counsel Russell S. Elmer sold 2,092 shares of the company’s stock in a transaction on Monday, February 7th. The shares were sold at an average price of $ 577.99, for a total value of $ 1,209,155.08. The disclosure for this sale can be found here. In the past quarter, insiders sold 29,953 shares of the company’s stock worth $ 17,420,327. 0.35% of the stock is currently owned by insiders.
Several large investors have recently increased or decreased their stakes in the company. Halbert Hargrove Global Advisors LLC raised its stake in shares of ServiceNow by 3.9% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 431 shares of the information technology services provider’s stock worth $ 268,000 after buying an additional 16 shares in the last quarter. Newfound Research LLC raised its stake in shares of ServiceNow by 22.7% in the 3rd quarter. Newfound Research LLC now owns 92 shares of the information technology services provider’s stock worth $ 57,000 after buying an additional 17 shares last quarter. Raised by Farmers & Merchants Investments Inc. its stake in ServiceNow shares was up 15.7% in the 3rd quarter. Farmers & Merchants Investments Pvt. now owns 133 shares of the information technology services provider’s stock worth $ 83,000 after buying an additional 18 shares last quarter. Spearhead Capital Advisors LLC raised its stake in shares of ServiceNow by 2.1% in the 3rd quarter. Spearhead Capital Advisors LLC now owns 861 shares of the information technology services provider’s stock worth $ 536,000 after buying an additional 18 shares in the last quarter. Finally, Nwam LLC raised its stake in ServiceNow shares by 4.5% in the 3rd quarter. Nwam LLC now owns 415 shares of the information technology services provider’s stock worth $ 258,000 after buying an additional 18 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.
About ServiceNow
ServiceNow, Inc. is engaged in providing enterprise cloud computing solutions. The company delivers digital workflows on an enterprise cloud platform called Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products. .
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