ServiceNow, Inc. (NYSE:NOW) Expected to Announce Quarterly Sales of $1.77 Billion

Analysts forecast that ServiceNow, Inc. (NYSE:NOW – Get Rating) will report sales of $1.77 billion for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for ServiceNow’s earnings. The lowest sales estimate is $1.76 billion and the highest is $1.80 billion. ServiceNow reported sales of $1.41 billion in the same quarter last year, which indicates a positive year over year growth rate of 25.5%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that ServiceNow will report full-year sales of $7.42 billion for the current fiscal year, with estimates ranging from $7.37 billion to $7.45 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $9.23 billion, with estimates ranging from $9.08 billion to $9.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for ServiceNow.

ServiceNow (NYSE:NOW – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The information technology services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The company’s revenue was up 26.6% on a year-over-year basis.

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets dropped their price objective on ServiceNow from $635.00 to $570.00 in a research note on Wednesday, April 27th. Jefferies Financial Group dropped their price objective on ServiceNow from $765.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, January 27th. Truist Financial lowered their target price on ServiceNow from $700.00 to $600.00 in a research note on Tuesday. Cowen lowered their target price on ServiceNow from $725.00 to $695.00 in a research note on Thursday, April 28th. Finally, Canaccord Genuity Group lowered their target price on ServiceNow from $715.00 to $615.00 in a research note on Thursday, January 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Buy” and an average target price of $664.74.

In related news, insider Christopher Bedi sold 158 shares of the business’s stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $578.87, for a total value of $91,461.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 580 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $431.51, for a total value of $250,275.80. Following the transaction, the insider now owns 189 shares in the company, valued at approximately $81,555.39. The disclosure for this sale can be found here. Insiders sold a total of 22,007 shares of company stock valued at $12,332,620 over the last three months. Company insiders own 0.35% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOW. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock worth $9,074,862,000 after acquiring an additional 306,106 shares during the period. BlackRock Inc. grew its holdings in shares of ServiceNow by 0.4% in the 4th quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $10,509,544,000 after acquiring an additional 65,623 shares during the period. State Street Corp grew its holdings in shares of ServiceNow by 3.2% in the 4th quarter. State Street Corp now owns 7,870,165 shares of the information technology services provider’s stock worth $5,108,603,000 after acquiring an additional 241,296 shares during the period. Morgan Stanley grew its holdings in shares of ServiceNow by 1.2% in the 2nd quarter. Morgan Stanley now owns 7,277,395 shares of the information technology services provider’s stock worth $3,999,292,000 after acquiring an additional 86,441 shares during the period. Finally, Polen Capital Management LLC lifted its stake in ServiceNow by 2.1% in the 1st quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock valued at $1,792,963,000 after buying an additional 67,385 shares in the last quarter. Institutional investors own 87.20% of the company’s stock.

Shares of NYSE NOW traded up $19.71 during trading on Friday, reaching $452.65. The stock had a trading volume of 2,093,565 shares, compared to its average volume of 1,754,470. ServiceNow has a fifty-two week low of $406.47 and a fifty-two week high of $707.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50-day moving average price is $516.26 and its 200-day moving average price is $577.20. The company has a market cap of $90.74 billion, a P/E ratio of 411.50, a PEG ratio of 8.23 and a beta of 1.09.

ServiceNow Company Profile (Get Rating)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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