Recent Research Analysts’ Ratings Updates for ServiceNow (NOW)

ServiceNow (NYSE: NOW) has recently received a number of price target changes and ratings updates:

• 1/6/2025 – ServiceNow had its price target raised by analysts at Piper Sandler from $1,000.00 to $1,200.00. They now have an “overweight” rating on the stock.
• 1/3/2025 – ServiceNow had its price target raised by analysts at Royal Bank of Canada from $1,045.00 to $1,210.00. They now have an “outperform” rating on the stock.
• 12/24/2024 – ServiceNow is now covered by analysts at Raymond James. They set an “outperform” rating and a $1,200.00 price target on the stock.
• 12/20/2024 – ServiceNow had its price target raised by analysts at Canaccord Genuity Group Inc. from $1,000.00 to $1,200.00. They now have a “buy” rating on the stock.
• 12/13/2024 – ServiceNow was downgraded by analysts at KeyCorp from an “overweight” rating to a “sector weight” rating.
• 12/13/2024 – ServiceNow had its price target raised by analysts at Mizuho from $1,070.00 to $1,210.00. They now have an “outperform” rating on the stock.
• 12/12/2024 – ServiceNow had its price target raised by analysts at Truist Financial Co. from $900.00 to $1,100.00. They now have a “hold” rating on the stock.
• 12/10/2024 – ServiceNow had its price target raised by analysts at TD Cowen from $1,025.00 to $1,300.00. They now have a “buy” rating on the stock.
• 12/5/2024 – ServiceNow had its price target raised by analysts at Wells Fargo & Company from $1,150.00 to $1,250.00. They now have an “overweight” rating on the stock.
• 12/3/2024 – ServiceNow had its price target raised by analysts at Oppenheimer Holdings Inc. from $1,020.00 to $1,150.00. They now have an “outperform” rating on the stock.
• 12/2/2024 – ServiceNow had its price target raised by analysts at Jefferies Financial Group Inc. from $1,100.00 to $1,250.00. They now have a “buy” rating on the stock.
• 11/25/2024 – ServiceNow had its price target raised by analysts at Needham & Company LLC from $1,075.00 to $1,150.00. They now have a “buy” rating on the stock.
• 11/19/2024 – ServiceNow is now covered by analysts at Scotiabank. They set a “sector outperform” rating and a $1,230.00 price target on the stock.
• 11/19/2024 – ServiceNow had its price target raised by analysts at Mizuho from $980.00 to $1,070.00. They now have an “outperform” rating on the stock.
• 11/18/2024 – ServiceNow was upgraded by analysts at Scotiabank to a “strong-buy” rating.
• 11/12/2024 – ServiceNow had its price target raised by analysts at Wells Fargo & Company from $1,050.00 to $1,150.00. They now have an “overweight” rating on the stock.
• 11/12/2024 – ServiceNow was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $24.23 during trading on Tuesday, hitting $1,052.82. 1,132,787 shares of the company’s stock were exchanged, compared to its average volume of 977,210. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $216.88 billion, a price-to-earnings ratio of 163.74, a PEG ratio of 6.43 and a beta of 0.99. The business has a 50-day simple moving average of $1,056.15 and a 200-day simple moving average of $915.86.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.21 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Buying and Selling

In related news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,629 shares of company stock worth $20,861,626. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

Several institutional investors have recently modified their holdings of NOW. One Wealth Capital Management LLC acquired a new position in ServiceNow during the fourth quarter valued at approximately $1,264,000. Westwind Capital grew its position in shares of ServiceNow by 41.6% in the 4th quarter. Westwind Capital now owns 23,131 shares of the information technology services provider’s stock worth $24,522,000 after acquiring an additional 6,798 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its position in shares of ServiceNow by 4.0% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 392 shares of the information technology services provider’s stock valued at $416,000 after acquiring an additional 15 shares in the last quarter. Capital Market Strategies LLC lifted its stake in ServiceNow by 2.4% during the fourth quarter. Capital Market Strategies LLC now owns 1,048 shares of the information technology services provider’s stock worth $1,111,000 after purchasing an additional 25 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. increased its stake in ServiceNow by 1.8% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 2,659 shares of the information technology services provider’s stock valued at $2,819,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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.