Cantor Fitzgerald Weighs in on ServiceNow FY2025 Earnings

ServiceNow, Inc. (NYSE:NOW - Free Report) - Equities research analysts at Cantor Fitzgerald increased their FY2025 earnings estimates for ServiceNow in a report released on Thursday, April 24th. Cantor Fitzgerald analyst T. Blakey now expects that the information technology services provider will post earnings per share of $9.18 for the year, up from their previous forecast of $8.94. Cantor Fitzgerald has a "Overweight" rating and a $1,048.00 price target on the stock. The consensus estimate for ServiceNow's current full-year earnings is $8.93 per share.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.41 EPS.

Other equities research analysts also recently issued research reports about the company. Piper Sandler decreased their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Royal Bank of Canada upped their price target on shares of ServiceNow from $975.00 to $1,060.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. dropped their target price on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley raised their target price on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Finally, Truist Financial cut their price objective on ServiceNow from $1,100.00 to $950.00 and set a "hold" rating for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,032.94.

ServiceNow Stock Performance

Shares of NYSE NOW traded up $12.16 during mid-day trading on Monday, hitting $955.02. The stock had a trading volume of 1,937,114 shares, compared to its average volume of 1,510,215. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company has a 50 day moving average of $837.19 and a two-hundred day moving average of $967.68. The firm has a market cap of $197.69 billion, a PE ratio of 139.83, a PEG ratio of 4.51 and a beta of 1.08. ServiceNow has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This trade represents a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 1,263 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,618 shares of company stock valued at $21,132,878 over the last 90 days. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Several institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in ServiceNow during the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new stake in shares of ServiceNow during the fourth quarter worth $28,000. WASHINGTON TRUST Co boosted its holdings in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the period. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow during the 4th quarter worth $32,000. Finally, FPC Investment Advisory Inc. increased its holdings in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Company Profile

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.