Cantor Fitzgerald Forecasts Stronger Earnings for ServiceNow

ServiceNow, Inc. (NYSE:NOW - Free Report) - Equities research analysts at Cantor Fitzgerald upped their FY2025 earnings per share estimates for ServiceNow in a research note issued on Thursday, April 24th. Cantor Fitzgerald analyst T. Blakey now anticipates that the information technology services provider will post earnings per share of $9.18 for the year, up from their previous forecast of $8.94. Cantor Fitzgerald has a "Overweight" rating and a $1,048.00 price objective on the stock. The consensus estimate for ServiceNow's current full-year earnings is $8.93 per share.

NOW has been the topic of several other research reports. Guggenheim increased their price target on ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a report on Thursday. Evercore ISI lifted their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday. Oppenheimer upped their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Stifel Nicolaus set a $975.00 price objective on ServiceNow and gave the stock a "buy" rating in a research note on Thursday. Finally, UBS Group restated a "buy" rating and set a $1,025.00 target price (up previously from $900.00) on shares of ServiceNow in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,032.94.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $946.08 on Monday. The business's 50-day simple moving average is $838.68 and its 200-day simple moving average is $967.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow has a 52 week low of $637.99 and a 52 week high of $1,198.09. The firm has a market cap of $195.84 billion, a price-to-earnings ratio of 138.52, a P/E/G ratio of 4.51 and a beta of 1.08.

ServiceNow announced that its board has authorized a share buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the sale, the chief executive officer now owns 2,595 shares of the company's stock, valued at $2,644,564.50. This represents a 32.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 292 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the sale, the insider now owns 3,027 shares of the company's stock, valued at $3,080,123.85. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,250 shares of company stock valued at $19,853,273. 0.38% of the stock is currently owned by insiders.

Institutional Trading of ServiceNow

Several hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of ServiceNow in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new stake in ServiceNow in the fourth quarter worth about $28,000. WASHINGTON TRUST Co raised its holdings in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow during the 4th quarter valued at about $32,000. Finally, FPC Investment Advisory Inc. boosted its stake in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

About ServiceNow

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.

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