Tuesday, November 24, 2020

why ServiceNow Inc. [NOW] is a Good Choice for Investors After New Price Target of $476.83

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ServiceNow Inc. [NYSE: NOW] traded at a high on 10/09/20, posting a 2.44 gain after which it closed the day’ session at $508.61.

The results of the trading session contributed to over 1189274 shares changing hands. Over the past one week, the price volatility of ServiceNow Inc. stands at 2.26% while the volatility over the past one month is 2.91%.


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The market cap for NOW stock reached $95.23 billion, with 191.32 million shares outstanding and 189.61 million shares in the current float. Compared to the average trading volume of 1.56M shares, NOW reached a trading volume of 1189274 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about ServiceNow Inc. [NOW]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NOW shares is $476.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NOW stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for ServiceNow Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 23, 2020. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $310 to $360. The new note on the price target was released on April 30, 2020, representing the official price target for ServiceNow Inc. stock. Previously, the target price had yet another raise to $300, while Robert W. Baird analysts kept a Neutral rating on NOW stock.

The Average True Range (ATR) for ServiceNow Inc. is set at 15.92, with the Price to Sales ratio for NOW stock in the period of the last 12 months amounting to 24.08. The Price to Book ratio for the last quarter was 39.24, with the Price to Cash per share for the same quarter was set at 12.51. Price to Free Cash Flow for NOW in the course of the last twelve months was 84.31 with Quick ratio for the last quarter at 1.20.

How has NOW stock performed recently?

ServiceNow Inc. [NOW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.13. With this latest performance, NOW shares gained by 12.28% in over the last four-week period, additionally plugging by 79.37% over the last 6 months – not to mention a rise of 93.26% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOW stock in for the last two-week period is set at 65.67, with the RSI for the last a single of trading hit 68.26, and the three-weeks RSI is set at 62.12 for ServiceNow Inc. [NOW]. The present Moving Average for the last 50 days of trading for this stock 462.51, while it was recorded at 499.69 for the last single week of trading, and 374.13 for the last 200 days.

ServiceNow Inc. [NOW]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ServiceNow Inc. [NOW] shares currently have an operating margin of +1.22 and a Gross Margin at +72.12. ServiceNow Inc.’s Net Margin is presently recorded at +18.11.

Return on Total Capital for NOW is now 1.67, given the latest momentum, and Return on Invested Capital for the company is 25.17. Return on Equity for this stock inclined to 38.70, with Return on Assets sitting at 12.66. When it comes to the capital structure of this company, ServiceNow Inc. [NOW] has a Total Debt to Total Equity ratio set at 53.14. Additionally, NOW Total Debt to Total Capital is recorded at 34.70, with Total Debt to Total Assets ending up at 18.78. Long-Term Debt to Equity for the company is recorded at 50.67, with the Long-Term Debt to Total Capital now at 33.09.

Reflecting on the efficiency of the workforce at the company, ServiceNow Inc. [NOW] managed to generate an average of $60,428 per employee. Receivables Turnover for the company is 4.91 with a Total Asset Turnover recorded at a value of 0.70.ServiceNow Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Earnings analysis for ServiceNow Inc. [NOW]

With the latest financial reports released by the company, ServiceNow Inc. posted 0.99/share EPS, while the average EPS was predicted by analysts to be reported at 0.88/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ServiceNow Inc. go to 27.71%.

Insider trade positions for ServiceNow Inc. [NOW]

There are presently around $89,231 million, or 93.50% of NOW stock, in the hands of institutional investors. The top three institutional holders of NOW stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 16,263,418, which is approximately -0.64% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 15,633,958 shares of the stock with an approximate value of $7.95 billion in NOW stocks shares; and BLACKROCK INC., currently with $7.94 billion in NOW stock with ownership of nearly 1.912% of the company’s market capitalization.

Positions in ServiceNow Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 654 institutional holders increased their position in ServiceNow Inc. [NYSE:NOW] by around 11,022,694 shares. Additionally, 374 investors decreased positions by around 13,441,230 shares, while 93 investors held positions by with 150,977,032 shares. The mentioned changes placed institutional holdings at 175,440,956 shares, according to the latest SEC report filing. NOW stock had 190 new institutional investments in for a total of 1,408,976 shares, while 69 institutional investors sold positions of 1,432,458 shares during the same period.

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