ServiceNow Inc. [NOW] Revenue clocked in at $6.60 billion, down -44.25% YTD: What’s Next?

ServiceNow Inc. [NYSE: NOW] plunged by -$7.23 during the normal trading session on Thursday and reaching a high of $366.57 during the day while it closed the day at $361.90. The company report on October 6, 2022 that ServiceNow Secures Department of Health and Human Services Enterprise-Wide Contract.

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ServiceNow to partner with Carahsoft to provide crucial functionality for HHS applications, help optimize inventory and reduce waste.

ServiceNow today announced it has won a single award, Blanket Purchase Agreement (BPA), with the U.S. Department of Health and Human Services (HHS), part of the U.S. General Services Administration (GSA). The agreement is in partnership with Carahsoft Technology Corp., The Trusted Government IT Solutions Provider®, and has an estimated value of $250 million for a five-year performance period, through 2027.

ServiceNow Inc. stock has also loss -13.51% of its value over the past 7 days. However, NOW stock has declined by -16.92% in the 3 months of the year. Over the past six months meanwhile, it has lost -31.21% and lost -44.25% year-on date.

The market cap for NOW stock reached $76.24 billion, with 202.00 million shares outstanding and 201.33 million shares in the current float. Compared to the average trading volume of 1.64M shares, NOW reached a trading volume of 2734691 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $557.15 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.

JP Morgan have made an estimate for ServiceNow Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 11, 2022. While these analysts kept the previous recommendation, MoffettNathanson raised their target price to Hold. The new note on the price target was released on September 22, 2022, representing the official price target for ServiceNow Inc. stock. Previously, the target price had yet another raise to $510, while Guggenheim analysts kept a Neutral rating on NOW stock.

The Average True Range (ATR) for ServiceNow Inc. is set at 17.90, with the Price to Sales ratio for NOW stock in the period of the last 12 months amounting to 11.55. The Price to Book ratio for the last quarter was 17.34, with the Price to Cash per share for the same quarter was set at 18.20. Price to Free Cash Flow for NOW in the course of the last twelve months was 37.71 with Quick ratio for the last quarter at 1.10.

NOW stock trade performance evaluation

ServiceNow Inc. [NOW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.51. With this latest performance, NOW shares dropped by -20.89% in over the last four-week period, additionally sinking by -31.21% over the last 6 months – not to mention a drop of -43.40% 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 33.70, with the RSI for the last a single of trading hit 30.26, and the three-weeks RSI is set at 36.22 for ServiceNow Inc. [NOW]. The present Moving Average for the last 50 days of trading for this stock 437.63, while it was recorded at 377.06 for the last single week of trading, and 492.94 for the last 200 days.

ServiceNow Inc. [NOW]: An insightful look at the core fundamentals

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.

Earnings per share (EPS) analysis for ServiceNow Inc. [NOW] stock

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 26.54%.

ServiceNow Inc. [NOW]: Insider Ownership positions

There are presently around $64,617 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 16,546,784, which is approximately 1.541% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 16,162,974 shares of the stock with an approximate value of $5.85 billion in NOW stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $5.07 billion in NOW stock with ownership of nearly -1.401% of the company’s market capitalization.

Positions in ServiceNow Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 726 institutional holders increased their position in ServiceNow Inc. [NYSE:NOW] by around 11,817,402 shares. Additionally, 613 investors decreased positions by around 8,965,759 shares, while 173 investors held positions by with 157,767,186 shares. The mentioned changes placed institutional holdings at 178,550,347 shares, according to the latest SEC report filing. NOW stock had 141 new institutional investments in for a total of 2,146,470 shares, while 145 institutional investors sold positions of 1,420,676 shares during the same period.


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