Morgan Stanley Remains a Hold on ServiceNow (NOW)

Morgan Stanley analyst Keith Weiss maintained a Hold rating on ServiceNow (NOW) today and set a price target of $307.00. The company’s shares closed last Monday at $272.71.

According to, Weiss is a 5-star analyst with an average return of 13.1% and a 58.7% success rate. Weiss covers the Technology sector, focusing on stocks such as Slack Technologies, Citrix Systems, and NortonLifeLock.

ServiceNow has an analyst consensus of Strong Buy, with a price target consensus of $359.46, which is a 32.0% upside from current levels. In a report issued on March 18, Deutsche Bank also downgraded the stock to Hold with a $300.00 price target.

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Based on ServiceNow’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $952 million and net profit of $599 million. In comparison, last year the company earned revenue of $715 million and had a net profit of $7.02 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. Last month, Anita Sands, a Director at NOW sold 10,300 shares for a total of $3,462,157.

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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.

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