William Blair Weighs in on ServiceNow, Inc.’s Q3 2024 Earnings (NYSE:NOW)

ServiceNow, Inc. (NYSE:NOWFree Report) – Research analysts at William Blair boosted their Q3 2024 earnings estimates for ServiceNow in a research report issued to clients and investors on Thursday, January 25th. William Blair analyst A. Bhatia now anticipates that the information technology services provider will earn $1.74 per share for the quarter, up from their previous estimate of $1.59. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for ServiceNow’s current full-year earnings is $5.64 per share. William Blair also issued estimates for ServiceNow’s Q4 2025 earnings at $2.42 EPS.

ServiceNow (NYSE:NOWGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 earnings per share.

Several other research analysts have also weighed in on the company. Citigroup boosted their price target on ServiceNow from $862.00 to $896.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Wells Fargo & Company boosted their target price on ServiceNow from $675.00 to $725.00 and gave the stock an “overweight” rating in a report on Thursday, November 30th. TheStreet raised ServiceNow from a “c+” rating to a “b-” rating in a report on Friday, December 8th. Piper Sandler boosted their target price on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group boosted their target price on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $750.93.

View Our Latest Report on ServiceNow

ServiceNow Trading Down 0.2 %

NYSE:NOW opened at $785.79 on Monday. The stock has a market capitalization of $161.09 billion, a PE ratio of 93.44, a price-to-earnings-growth ratio of 5.30 and a beta of 1.05. The business’s 50-day simple moving average is $708.51 and its 200-day simple moving average is $623.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. ServiceNow has a fifty-two week low of $405.37 and a fifty-two week high of $789.91.

Hedge Funds Weigh In On ServiceNow

Several hedge funds have recently made changes to their positions in NOW. PFG Private Wealth Management LLC purchased a new stake in shares of ServiceNow during the 3rd quarter worth about $28,000. First Capital Advisors Group LLC. acquired a new stake in shares of ServiceNow during the 2nd quarter worth approximately $29,000. High Net Worth Advisory Group LLC acquired a new stake in ServiceNow in the 1st quarter valued at approximately $29,000. Altshuler Shaham Ltd acquired a new stake in ServiceNow in the 2nd quarter valued at approximately $30,000. Finally, AdvisorNet Financial Inc increased its holdings in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. 87.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 56 shares of ServiceNow stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $616.08, for a total value of $34,500.48. Following the sale, the general counsel now directly owns 4,225 shares of the company’s stock, valued at $2,602,938. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $682.00, for a total transaction of $92,070.00. Following the completion of the transaction, the director now owns 10,744 shares in the company, valued at $7,327,408. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 56 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $616.08, for a total value of $34,500.48. Following the completion of the sale, the general counsel now owns 4,225 shares of the company’s stock, valued at approximately $2,602,938. The disclosure for this sale can be found here. Insiders have sold a total of 7,960 shares of company stock valued at $5,311,778 over the last ninety days. 0.28% of the stock is currently owned by company insiders.

ServiceNow Company Profile

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ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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Earnings History and Estimates for ServiceNow (NYSE:NOW)

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