In the latest quarter, 21 analysts provided ratings for ServiceNow NOW, showcasing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 11 | 8 | 1 | 0 | 1 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 7 | 7 | 1 | 0 | 0 |
| 3M Ago | 3 | 1 | 0 | 0 | 1 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $864.33, a high estimate of $935.00, and a low estimate of $640.00. This upward trend is apparent, with the current average reflecting a 0.6% increase from the previous average price target of $859.20.
Investigating Analyst Ratings: An Elaborate Study
A comprehensive examination of how financial experts perceive ServiceNow is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Mike Cikos | Needham | Maintains | Buy | $900.00 | $900.00 |
| Patrick Walravens | JMP Securities | Raises | Market Outperform | $850.00 | $825.00 |
| Derrick Wood | TD Cowen | Raises | Buy | $900.00 | $870.00 |
| Michael Turrin | Wells Fargo | Raises | Overweight | $935.00 | $920.00 |
| Brad Zelnick | Deutsche Bank | Raises | Buy | $900.00 | $875.00 |
| Matthew Hedberg | RBC Capital | Raises | Outperform | $880.00 | $850.00 |
| Keith Bachman | BMO Capital | Raises | Outperform | $860.00 | $830.00 |
| Joel Fishbein | Truist Securities | Raises | Hold | $780.00 | $750.00 |
| Mark Murphy | JP Morgan | Raises | Overweight | $820.00 | $780.00 |
| Brad Reback | Stifel | Raises | Buy | $900.00 | $820.00 |
| David Hynes | Canaccord Genuity | Raises | Buy | $850.00 | $835.00 |
| Rob Owens | Piper Sandler | Raises | Overweight | $850.00 | $830.00 |
| Rob Oliver | Baird | Raises | Outperform | $900.00 | $885.00 |
| Mike Cikos | Needham | Maintains | Buy | $900.00 | $900.00 |
| David Hynes | Canaccord Genuity | Maintains | Buy | $835.00 | $835.00 |
| Tyler Radke | Citigroup | Raises | Buy | $911.00 | $909.00 |
| Mike Cikos | Needham | Maintains | Buy | $900.00 | $900.00 |
| John Difucci | Guggenheim | Announces | Sell | $640.00 | - |
| Brad Reback | Stifel | Maintains | Buy | $820.00 | $820.00 |
| Jason Ader | Keybanc | Lowers | Overweight | $920.00 | $950.00 |
| Mike Cikos | Needham | Maintains | Buy | $900.00 | $900.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to ServiceNow. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of ServiceNow compared to the broader market.
- Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of ServiceNow's stock. This examination reveals shifts in analysts' expectations over time.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of ServiceNow's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on ServiceNow analyst ratings.
Unveiling the Story Behind ServiceNow
ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company primarily focuses on the IT function for enterprise customers. ServiceNow began with IT service management, expanded within the IT function, and more recently directed its workflow automation logic to functional areas beyond IT, notably customer service, HR service delivery, and security operations. ServiceNow also offers an application development platform as a service.
ServiceNow: Financial Performance Dissected
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Over the 3 months period, ServiceNow showcased positive performance, achieving a revenue growth rate of 22.19% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: ServiceNow's net margin is impressive, surpassing industry averages. With a net margin of 9.97%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): ServiceNow's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 3.12%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): ServiceNow's ROA excels beyond industry benchmarks, reaching 1.47%. This signifies efficient management of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.26.
The Basics of Analyst Ratings
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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