ServiceNow Inc. [NOW] Is Currently -2.70 below its 200 Period Moving Avg: What Does This Mean?



ServiceNow Inc. [NYSE: NOW] loss -2.70% or -12.1 points to close at $436.50 with a heavy trading volume of 3905109 shares. The company report on July 27, 2022 that ServiceNow Reports Second Quarter 2022 Financial Results.

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Subscription revenues of $1,658 million in Q2 2022, representing 25% year-over-year growth, 29.5% adjusted for constant currency.

Total revenues of $1,752 million in Q2 2022, representing 24% year-over-year growth, 29.5% adjusted for constant currency.

It opened the trading session at $431.23, the shares rose to $446.31 and dropped to $423.69, the range by which the price of stock traded the whole day. The daily chart for NOW points out that the company has recorded -9.89% loss over the past six months. However, it is still -7.39% lower than its most recent low trading price.

If we look at the average trading volume of 1.83M shares, NOW reached to a volume of 3905109 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $612.37 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 1.80. 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.

Bernstein have made an estimate for ServiceNow Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 20, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Overweight. The new note on the price target was released on May 18, 2022, representing the official price target for ServiceNow Inc. stock. Previously, the target price had yet another raise to $460, while Exane BNP Paribas analysts kept a Underperform rating on NOW stock.

The Average True Range (ATR) for ServiceNow Inc. is set at 21.90, with the Price to Sales ratio for NOW stock in the period of the last 12 months amounting to 14.41. The Price to Book ratio for the last quarter was 21.85, with the Price to Cash per share for the same quarter was set at 19.44. Price to Free Cash Flow for NOW in the course of the last twelve months was 46.25 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for NOW stock

ServiceNow Inc. [NOW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.17. With this latest performance, NOW shares dropped by -7.80% in over the last four-week period, additionally sinking by -9.89% over the last 6 months – not to mention a drop of -25.17% 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 45.00, with the RSI for the last a single of trading hit 44.50, and the three-weeks RSI is set at 45.61 for ServiceNow Inc. [NOW]. The present Moving Average for the last 50 days of trading for this stock 460.69, while it was recorded at 438.94 for the last single week of trading, and 552.76 for the last 200 days.

ServiceNow Inc. [NOW]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and ServiceNow Inc. [NOW] shares currently have an operating margin of +4.36 and a Gross Margin at +77.05. ServiceNow Inc.’s Net Margin is presently recorded at +3.90.

Return on Equity for this stock inclined to 7.04, with Return on Assets sitting at 2.36.

ServiceNow Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

ServiceNow Inc. [NOW]: An earnings per share (EPS) analysis

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 27.06%.

An analysis of insider ownership at ServiceNow Inc. [NOW]

There are presently around $78,540 million, or 90.30% of NOW stock, in the hands of institutional investors. The top three institutional holders of NOW stocks are: VANGUARD GROUP INC with ownership of 16,295,607, which is approximately 1.914% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 16,092,858 shares of the stock with an approximate value of $7.22 billion in NOW stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $6.38 billion in NOW stock with ownership of nearly 0.535% 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 731 institutional holders increased their position in ServiceNow Inc. [NYSE:NOW] by around 11,525,508 shares. Additionally, 642 investors decreased positions by around 11,295,758 shares, while 169 investors held positions by with 152,256,279 shares. The mentioned changes placed institutional holdings at 175,077,545 shares, according to the latest SEC report filing. NOW stock had 153 new institutional investments in for a total of 3,963,669 shares, while 149 institutional investors sold positions of 1,802,888 shares during the same period.