Mizuho reiterated their buy rating on shares of ServiceNow, Inc. (NYSE:NOW) in a research report sent to investors on Wednesday, October 25th. They currently have a $140.00 price target on the information technology services provider’s stock.
“We expect total revenue of $495-500mm (up 38-40% Y/Y) vs. consensus of $492mm and guidance of $488-493mm. This includes subscription revenues of $445-450mm (up 40-41% Y/Y) vs consensus of $445mm. Profitability upside could be more limited due to the nature of the business model. For FCF, we expect results around $95-100mm (or margin of 19-20%) vs. consensus of $91mm.”,” Mizuho’s analyst wrote.
Several other research analysts have also recently weighed in on NOW. BidaskClub upgraded shares of ServiceNow from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. Sanford C. Bernstein restated an outperform rating and issued a $141.00 price objective on shares of ServiceNow in a research report on Wednesday, June 28th. Zacks Investment Research upgraded shares of ServiceNow from a sell rating to a hold rating in a research report on Tuesday, July 11th. OTR Global cut shares of ServiceNow to a positive rating in a research report on Friday, July 14th. Finally, Morgan Stanley reiterated an overweight rating and set a $134.00 price target (up from $124.00) on shares of ServiceNow in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-nine have given a buy rating and three have given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $130.50.
ServiceNow (NYSE NOW) traded up $0.43 during midday trading on Wednesday, hitting $125.98. 958,400 shares of the stock traded hands, compared to its average volume of 1,603,368. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.66 and a quick ratio of 1.73. ServiceNow has a 12-month low of $72.80 and a 12-month high of $129.56.
ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. ServiceNow had a negative net margin of 8.68% and a negative return on equity of 22.11%. The firm had revenue of $498.20 million for the quarter, compared to the consensus estimate of $491.62 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The company’s revenue for the quarter was up 39.3% on a year-over-year basis. analysts forecast that ServiceNow will post -0.35 earnings per share for the current fiscal year.
In other ServiceNow news, insider Michael Scarpelli sold 75,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $107.68, for a total value of $8,076,000.00. Following the transaction, the insider now owns 252,368 shares of the company’s stock, valued at approximately $27,174,986.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO David Schneider sold 16,349 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $107.25, for a total value of $1,753,430.25. The disclosure for this sale can be found here. Insiders sold a total of 1,038,849 shares of company stock worth $121,440,605 in the last ninety days. 3.30% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC grew its position in shares of ServiceNow by 3.6% during the 2nd quarter. LS Investment Advisors LLC now owns 1,738 shares of the information technology services provider’s stock worth $184,000 after buying an additional 61 shares in the last quarter. Commonwealth Bank of Australia grew its position in shares of ServiceNow by 5.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,518 shares of the information technology services provider’s stock worth $159,000 after buying an additional 83 shares in the last quarter. Crow Point Partners LLC grew its position in shares of ServiceNow by 8.8% during the 2nd quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock worth $140,000 after buying an additional 107 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of ServiceNow by 0.6% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 20,816 shares of the information technology services provider’s stock worth $1,821,000 after buying an additional 116 shares in the last quarter. Finally, Comerica Bank grew its position in shares of ServiceNow by 2.6% during the 2nd quarter. Comerica Bank now owns 7,959 shares of the information technology services provider’s stock worth $859,000 after buying an additional 205 shares in the last quarter.
ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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