Edward Jones Believes ServiceNow (NOW) Still Has Room to Grow
ServiceNow (NOW) received a Buy rating from Edward Jones analyst Edward Jones yesterday. The company’s shares closed last Wednesday at $510.28, close to its 52-week high of $530.73.
ServiceNow has an analyst consensus of Strong Buy, with a price target consensus of $520.83, which is a 0.4% upside from current levels. In a report issued on October 9, Barclays also maintained a Buy rating on the stock with a $581.00 price target.
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Based on ServiceNow’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.07 billion and net profit of $40.77 million. In comparison, last year the company earned revenue of $834 million and had a GAAP net loss of $11.08 million.
Based on the recent corporate insider activity of 145 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NOW in relation to earlier this year.
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ServiceNow, Inc. engages in the provision of enterprise cloud computing solutions. It offers customer and facilities service management, orchestration core, service mapping, cloud and portfolio management, edge encryption, performance analytics, service portal designer, visual task boards and configuration management database. The firm offers its solutions for the industries under the categories of Healthcare, Education, Government and Financial services. The company was founded by Frederic B. Luddy in June 2004 and is headquartered in Santa Clara, CA.