Zacks: Analysts Expect ServiceNow, Inc. (NOW) Will Post Quarterly Sales of $491.91 Million
Analysts expect ServiceNow, Inc. (NYSE:NOW) to post $491.91 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for ServiceNow’s earnings. The highest sales estimate is $495.28 million and the lowest is $490.40 million. ServiceNow posted sales of $357.66 million during the same quarter last year, which suggests a positive year over year growth rate of 37.5%. The company is expected to issue its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that ServiceNow will report full-year sales of $491.91 million for the current year, with estimates ranging from $1.91 billion to $1.93 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.49 billion per share, with estimates ranging from $2.43 billion to $2.59 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover ServiceNow.
ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. The firm had revenue of $471.70 million during the quarter, compared to analyst estimates of $462.11 million. ServiceNow had a negative return on equity of 30.72% and a negative net margin of 10.17%. ServiceNow’s revenue was up 38.2% compared to the same quarter last year. During the same period last year, the business posted $0.15 earnings per share.
NOW has been the subject of a number of research reports. Zacks Investment Research cut shares of ServiceNow from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Morgan Stanley upped their price target on shares of ServiceNow from $108.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. BMO Capital Markets upped their price target on shares of ServiceNow from $104.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. BidaskClub raised shares of ServiceNow from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $115.00 price target (up from $107.00) on shares of ServiceNow in a research report on Monday, June 5th. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company’s stock. ServiceNow presently has a consensus rating of “Buy” and a consensus price target of $115.96.
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ServiceNow (NOW) opened at 107.68 on Wednesday. The stock’s market capitalization is $18.35 billion. ServiceNow has a 12-month low of $71.25 and a 12-month high of $115.85. The company has a 50-day moving average price of $107.90 and a 200-day moving average price of $96.17.
In related news, CRO David Schneider sold 6,430 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $99.50, for a total transaction of $639,785.00. Following the sale, the executive now owns 33,466 shares in the company, valued at $3,329,867. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 252,211 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $109.19, for a total transaction of $27,538,919.09. Following the sale, the director now owns 356,287 shares in the company, valued at approximately $38,902,977.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 731,884 shares of company stock worth $79,049,745. 3.30% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in NOW. Cornerstone Advisors Inc. raised its stake in ServiceNow by 29.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock valued at $115,000 after buying an additional 245 shares during the period. Barrett Asset Management LLC acquired a new stake in ServiceNow during the second quarter valued at $117,000. Crow Point Partners LLC raised its stake in ServiceNow by 8.8% in the second quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock valued at $140,000 after buying an additional 107 shares during the period. Global X Management Co. LLC raised its stake in ServiceNow by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 330 shares during the period. Finally, Hartford Financial Management Inc. acquired a new stake in ServiceNow during the first quarter valued at $125,000. Hedge funds and other institutional investors own 97.53% of the company’s stock.
ServiceNow Company Profile
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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