Scotiabank Predicts ServiceNow’s FY2024 Earnings (NYSE:NOW)

ServiceNow, Inc. (NYSE:NOW) – Investment analysts at Scotiabank issued their FY2024 earnings estimates for ServiceNow in a research note issued on Wednesday, January 8th. Scotiabank analyst A. Verkhovski forecasts that the information technology services provider will post earnings per share of $7.07 for the year. Scotiabank has a “Strong-Buy” rating on the stock. The consensus estimate for ServiceNow’s current full-year earnings is $7.07 per share. Scotiabank also issued estimates for ServiceNow’s FY2025 earnings at $9.17 EPS.

Several other research firms also recently weighed in on NOW. UBS Group raised their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Mizuho raised their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Robert W. Baird upped their target price on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Evercore ISI raised their price target on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein upped their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,071.39.

ServiceNow Trading Down 1.2 %

Shares of NOW stock opened at $1,012.47 on Monday. ServiceNow has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $1,065.17 and a 200-day simple moving average of $925.81. The stock has a market cap of $208.57 billion, a P/E ratio of 157.46, a P/E/G ratio of 6.43 and a beta of 0.99.

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 the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS.

Institutional Trading of ServiceNow

Several large investors have recently bought and sold shares of NOW. Horizon Bancorp Inc. IN boosted its stake in shares of ServiceNow by 11.0% in the fourth quarter. Horizon Bancorp Inc. IN now owns 282 shares of the information technology services provider’s stock valued at $299,000 after purchasing an additional 28 shares during the period. Marcum Wealth LLC boosted its position in ServiceNow by 7.1% in the 4th quarter. Marcum Wealth LLC now owns 680 shares of the information technology services provider’s stock valued at $721,000 after buying an additional 45 shares during the last quarter. Gunderson Capital Management Inc. acquired a new stake in shares of ServiceNow during the fourth quarter valued at about $7,481,000. FNY Investment Advisers LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth about $699,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of ServiceNow by 34.4% in the fourth quarter. AdvisorNet Financial Inc now owns 129 shares of the information technology services provider’s stock worth $137,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock worth $20,861,626 over the last three months. 0.25% of the stock is owned by insiders.

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.