ServiceNow Inc [NYSE: NOW] price surged by 0.43 percent to reach at $3.27. The company report on January 24, 2024 at 4:10 PM that ServiceNow Reports Fourth Quarter and Full-Year 2023 Financial Results.
ServiceNow exceeds guidance across all Q4 2023 topline growth and profitability metrics; raises 2024 subscription revenues and operating margin outlook.
Subscription revenues of $2,365 million in Q4 2023, representing 27% year-over-year growth, 25.5% in constant currency.
The one-year NOW stock forecast points to a potential upside of 8.65. The average equity rating for NOW stock is currently 1.37, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $839.27 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 1.37. 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.
Needham have made an estimate for ServiceNow Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 22, 2024.
The Average True Range (ATR) for ServiceNow Inc is set at 15.32, with the Price to Sales ratio for NOW stock in the period of the last 12 months amounting to 17.52. The Price to Book ratio for the last quarter was 21.89, with the Price to Cash per share for the same quarter was set at 23.79. Price to Free Cash Flow for NOW in the course of the last twelve months was 58.13 with Quick ratio for the last quarter at 1.00.
NOW Stock Performance Analysis:
ServiceNow Inc [NOW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.78. With this latest performance, NOW shares gained by 9.91% in over the last four-week period, additionally plugging by 32.81% over the last 6 months – not to mention a rise of 72.91% 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 76.82, with the RSI for the last a single of trading hit 83.75, and the three-weeks RSI is set at 72.85 for ServiceNow Inc [NOW]. The present Moving Average for the last 50 days of trading for this stock 697.29, while it was recorded at 757.02 for the last single week of trading, and 582.71 for the last 200 days.
Insight into ServiceNow Inc Fundamentals:
ServiceNow Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 0.99.
NOW Stock EPS
With the latest financial reports released by the company, ServiceNow Inc posted 2.37/share EPS, while the average EPS was predicted by analysts to be reported at 2.04/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.20%. 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 26.67%.
ServiceNow Inc [NOW] Institutonal Ownership Details
The top three institutional holders of NOW stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NOW stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NOW stock with ownership which is approximately 5.8325%.
