Equities research analysts expect that ServiceNow, Inc. (NYSE:NOW) will report $1.60 billion in sales for the current quarter, according to Zacks. Ten analysts have provided estimates for ServiceNow's earnings. The lowest sales estimate is $1.59 billion and the highest is $1.62 billion. ServiceNow reported sales of $1.25 billion in the same quarter last year, which would suggest a positive year over year growth rate of 28%. The business is scheduled to issue its next earnings results on Wednesday, January 26th.
On average, analysts expect that ServiceNow will report full-year sales of $5.88 billion for the current fiscal year, with estimates ranging from $5.87 billion to $5.90 billion. For the next financial year, analysts anticipate that the firm will report sales of $7.37 billion, with estimates ranging from $7.30 billion to $7.42 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research analysts that cover ServiceNow.
ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 27th. The information technology services provider reported $1.55 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $1.39 by $0.16. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. ServiceNow had a return on equity of 9.31% and a net margin of 3.99%. The firm's revenue was up 31.3% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share.
Several research analysts have issued reports on NOW shares. Mizuho boosted their target price on ServiceNow from $650.00 to $680.00 and gave the company a "buy" rating in a research report on Monday, October 18th. JMP Securities boosted their target price on ServiceNow from $639.00 to $705.00 and gave the company a "market outperform" rating in a research report on Monday, October 11th. Robert W. Baird boosted their target price on ServiceNow from $580.00 to $650.00 and gave the company a "neutral" rating in a research report on Thursday, October 28th. DZ Bank started coverage on ServiceNow in a research report on Wednesday, September 22nd. They set a "buy" rating and a $725.00 target price for the company. Finally, boosted their target price on ServiceNow from $650.00 to $715.00 and gave the company a "buy" rating in a research report on Thursday, October 28th. Three investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of "Buy" and an average target price of $724.48.
In other ServiceNow news, CFO Gina Mastantuono sold 578 shares of the company's stock in a transaction on Monday, October 11th. The shares were sold at an average price of $618.02, for a total value of $357,215.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,777 shares of the stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $676.98, for a total transaction of $1,202,993.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,995 shares of company stock worth $16,818,212. 0.35% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of NOW. BlackRock Inc. raised its position in shares of ServiceNow by 4.2% during the 3rd quarter. BlackRock Inc. now owns 16,125,077 shares of the information technology services provider's stock worth $10,034,153,000 after purchasing an additional 657,340 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of ServiceNow by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 15,703,111 shares of the information technology services provider's stock worth $8,629,644,000 after purchasing an additional 103,215 shares during the period. State Street Corp boosted its position in shares of ServiceNow by 1.2% during the 2nd quarter. State Street Corp now owns 7,591,945 shares of the information technology services provider's stock worth $4,172,153,000 after purchasing an additional 88,975 shares during the period. Morgan Stanley boosted its position in shares of ServiceNow by 1.2% during the 2nd quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider's stock worth $3,999,292,000 after purchasing an additional 86,441 shares during the period. Finally, Polen Capital Management LLC boosted its position in ServiceNow by 4.7% in the 2nd quarter. Polen Capital Management LLC now owns 3,510,696 shares of the information technology services provider's stock valued at $1,929,303,000 after buying an additional 156,160 shares during the period. 85.13% of the stock is currently owned by institutional investors and hedge funds.
NOW opened at $630.14 on Tuesday. The firm has a market cap of $125.40 billion, a P/E ratio of 578.11, a P/E/G ratio of 16.47 and a beta of 1.01. ServiceNow has a 12 month low of $448.27 and a 12 month high of $707.60. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average of $657.65 and a 200 day moving average of $625.67.
ServiceNow Company Profile
ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.
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