ServiceNow (NOW) to Release Quarterly Earnings on Wednesday

ServiceNow (NYSE:NOW) is anticipated to announce its earnings results after the market closes on Wednesday, January 22nd. Analysts expect ServiceNow to post earnings of $3.67 per share and revenue of $2,959,870.00 billion for the quarter.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 earnings per share. On average, analysts expect ServiceNow to post $7 EPS for the current fiscal year and $9 EPS for the next fiscal year.

ServiceNow Price Performance

Shares of NOW traded up $23.70 during trading hours on Wednesday, hitting $1,054.99. 1,286,426 shares of the company were exchanged, compared to its average volume of 1,242,440. The firm has a fifty day simple moving average of $1,066.34 and a 200-day simple moving average of $927.52. The company has a market capitalization of $217.33 billion, a PE ratio of 164.07, a PEG ratio of 6.43 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow has a one year low of $637.99 and a one year high of $1,157.90.

Insider Buying and Selling at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,276 shares of company stock worth $20,535,115 over the last 90 days. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of several recent analyst reports. Piper Sandler boosted their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company raised their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada boosted their target price on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. TD Cowen raised their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group upped their price target on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,071.39.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.