FY2024 Earnings Forecast for ServiceNow Issued By Scotiabank

ServiceNow, Inc. (NYSE:NOW - Free Report) - Equities research analysts at Scotiabank issued their FY2024 earnings per share estimates for ServiceNow in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst A. Verkhovski expects that the information technology services provider will post earnings of $7.07 per share for the year. Scotiabank currently 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.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion for 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%. The business's revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 EPS.

Several other equities research analysts have also recently weighed in on NOW. Morgan Stanley cut shares of ServiceNow from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Canaccord Genuity Group upped their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Needham & Company LLC lifted their price target on ServiceNow from $1,075.00 to $1,150.00 and gave the company a "buy" rating in a report on Monday, November 25th. Oppenheimer upped their price objective on ServiceNow from $1,020.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Finally, StockNews.com upgraded ServiceNow from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,071.39.

ServiceNow Stock Down 2.4 %

NYSE:NOW opened at $1,024.26 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $211.00 billion, a PE ratio of 159.29, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The company has a 50-day moving average of $1,064.01 and a 200 day moving average of $924.13. ServiceNow has a 1-year low of $637.99 and a 1-year high of $1,157.90.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company's stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares of the company's stock, valued at $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,629 shares of company stock worth $20,861,626 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in shares of ServiceNow in the 3rd quarter valued at about $30,000. DT Investment Partners LLC grew its holdings in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock valued at $35,000 after purchasing an additional 17 shares during the period. Semmax Financial Advisors Inc. purchased a new stake in shares of ServiceNow in the second quarter valued at approximately $39,000. Oakworth Capital Inc. raised its stake in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock worth $39,000 after buying an additional 14 shares during the period. Finally, Dunhill Financial LLC lifted its position in shares of ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider's stock valued at $46,000 after buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

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.