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ServiceNow Inc. (NOW) – The 19.2% Upside Potential Remains

ServiceNow Inc. (NYSE: NOW) is -8.25% lower on its value in year-to-date trading and has touched a low of $301.57 and a high of $598.37 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NOW stock was last observed hovering at around $557.24 in the last trading session, with the day’s loss setting it -52.24% off its average median price target of $625.00 for the next 12 months. It is also 27.34% off the consensus price target high of $695.00 offered by 33 analysts, but current levels are 2.88% higher than the price target low of $520.00 for the same period.

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Currently trading at $505.00, the stock is -6.12% and -2.91% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.67 million and changing -9.37% at the moment leaves the stock 0.02% off its SMA200. NOW registered 56.84% gain for a year compared to 6-month loss of 1.04%. The firm has a 50-day simple moving average (SMA 50) of $515.77 and a 200-day simple moving average (SMA200) of $527.37.

The stock witnessed a 3.57% gain in the last 1 month and extending the period to 3 months gives it a -8.88%, and is -7.93% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.38% over the week and 2.36% over the month.

ServiceNow Inc. (NOW) has around 13096 employees, a market worth around $98.28B and $4.52B in sales. Current P/E ratio is 855.93 and Fwd P/E is 71.82. Profit margin for the company is 2.60%. Distance from 52-week low is 67.46% and -15.60% from its 52-week high. The company has generated returns on investments over the last 12 months (2.70%).

ServiceNow Inc. (NOW) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for ServiceNow Inc. (NOW) is a “Buy”. 33 analysts offering their recommendations for the stock have an average rating of 1.70, where 4 rate it as a Hold and 1 think it is a “Overweight”. 28 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

ServiceNow Inc. is expected to release its quarterly report on 07/28/2021 and quarterly earnings per share for the current quarter are estimated at $1.2 with sales reaching $1.36B over the same period.The EPS is expected to shrink by -81.60% this year, but quarterly earnings will post 27.00% year-over-year. Quarterly sales are estimated to grow 29.70% in year-over-year returns.

ServiceNow Inc. (NOW) Top Institutional Holders

1,745 institutions hold shares in ServiceNow Inc. (NOW), with 719.69k shares held by insiders accounting for 0.37% while institutional investors hold 90.50% of the company’s shares. The shares outstanding are 196.10M, and float is at 195.35M with Short Float at 1.46%. Institutions hold 90.16% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 16.09 million shares valued at $8.86 billion. The investor’s holdings represent 8.15% of the NOW Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 15.54 million shares valued at $8.55 billion to account for 7.87% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 15.17 million shares representing 7.68% and valued at over $8.35 billion, while State Street Corporation holds 3.86% of the shares totaling 7.63 million with a market value of $4.2 billion.

ServiceNow Inc. (NOW) Insider Activity

A total of 320 insider transactions have happened at ServiceNow Inc. (NOW) in the last six months, with sales accounting for 256 and purchases happening 64 times. The most recent transaction is an insider sale by LUDDY FREDERIC B, the company’s Director. SEC filings show that LUDDY FREDERIC B sold 16,500 shares of the company’s common stock on Apr 06 at a price of $510.46 per share for a total of $8.42 million. Following the sale, the insider now owns 49200.0 shares.

ServiceNow Inc. disclosed in a document filed with the SEC on Apr 01 that Briggs Teresa (Director) sold a total of 546 shares of the company’s common stock. The trade occurred on Apr 01 and was made at $508.00 per share for $0.28 million. Following the transaction, the insider now directly holds 932.0 shares of the NOW stock.

Still, SEC filings show that on Mar 08, LUDDY FREDERIC B (Director) disposed off 15,690 shares at an average price of $478.48 for $7.51 million. The insider now directly holds 51,510 shares of ServiceNow Inc. (NOW).

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ServiceNow Inc. (NOW): Who are the competitors?

The company’s main competitors (and peers) include Fair Isaac Corporation (FICO) that is trading 49.30% up over the past 12 months. International Business Machines Corporation (IBM) is 12.08% up on the 1-year trading charts. Short interest in the company’s stock has fallen -6.72% from the last report on Apr 14, 2021 to stand at a total of 2.86 million short shares sold with a short interest ratio of 2.

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