ServiceNow Inc. (NOW): Here Are Some Research Recommendations

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MDVL Stock
MDVL Stock

ServiceNow Inc. (NYSE:NOW) finished Wednesday with a subtraction of -$9.77 to close at $401.43, a downside of -2.38 percent. An average of 1,833,820 shares of common stock have been traded in the last five days. There was a fall of -$56.06 in the past week, and it reached a new high 9 times over the past 12 months. The last 20 days have seen an average of 1,320,680 shares traded, while the 50-day average volume stands at 1,563,820.

NOW stock has decreased by -12.68% in the last month. The company shares reached their 1-month lowest point of $401.39 on 09/21/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $406.47 and a high of $707.60 in 52 weeks. It has reached a new high 1 time so far this year and lost -38.16% or -$247.68 in price. In spite of this, the price is down -43.27% from the 52-week high.


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Insider Transactions

3 days have passed since ServiceNow Inc. (NOW) last reported insider trading activity. ELMER RUSSELL S, who is General Counsel, most recently acquired $2,666 shares at $422.80 per share on Sep 19. In this transaction, the insider spent $1,127,185. Director, LUDDY FREDERIC B, disposed of 6,600 shares at a price of $423.90 on Sep 01. The insider now owns more than $2,797,732 worth of shares. Prior to that, Chief Financial Officer Mastantuono Gina went on to Sale 4,262 shares at $439.10 each on Aug 29. An amount of $1,871,423 was transacted.

Valuation Metrics

ServiceNow Inc. (NOW) has a trailing price-to-earnings (P/E) ratio of 443.08. The stock’s beta is 0.94. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 12.57, the price-to-book (PB) ratio at 19.23, and the price-to-cash flow ratio at 41.02.

Financial Health

The quick ratio of ServiceNow Inc. for the three months ended June 29 was 1.10, and the current ratio was 1.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.35 and a total debt to equity ratio of 0.35 for the quarter ending June 29. Its gross profit as reported stood at $4.54 billion compared to revenue of $5.9 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, ServiceNow Inc.’s return on assets was 1.70%.

Earnings Surprise

For the three-month period that ended June 29, ServiceNow Inc. had $2.17 billion in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $20.0 million in the quarter, while revenues were shrunk -195.0%. The analyst consensus anticipated ServiceNow Inc.’s latest quarter earnings to come in at $1.54 per share, but it turned out to be $1.62, a 5.20% surprise. For the quarter, EBITDA amounted to $213.0 million. Shareholders own equity worth $20.2 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at ServiceNow Inc. (NOW) price momentum. RSI 9-day as of the close on 21 September was 26.99%, suggesting the stock is oversold, with historical volatility in this time frame at 45.58%.

As of today, NOW’s price is $419.81 -12.25% or -$56.06 from its 5-day moving average. NOW is currently trading -12.73% lower than its 20-day SMA and -20.35% lower than its 100-day SMA. However, the stock’s current price level is -6.19% below the SMA50 and -34.53% below the SMA200.

The stochastic %K and %D were 4.33% and 10.54%, respectively, and the average true range (ATR) was 15.95. With the 14-day stochastic at 0.05% and the average true range at 16.40, the RSI (14) stands at 32.90%. The stock has reached -26.91 on the 9-day MACD Oscillator while the 14-day reading was at -26.42.

Analyst Ratings

Guggenheim launched coverage on ServiceNow Inc. (NYSE: NOW) in its analyst report released on August 12, 2022. The firm assigned the stock a Neutral rating. The consensus rating for ServiceNow Inc. (NOW) among analysts is Buy. According to current brokerage recommendations, 1 brokerage firm advise that investors sell NOW, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 28 others rate it as a “buy”.

What is NOW’s price target for the next 12 months?

Analysts predict a range of price targets between $495.00 and $752.00, with a median target of $550.00. Taking a look at these predictions, the average price target given by analysts for ServiceNow Inc. (NOW) stock is $553.83.

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