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UPDATE: JG Capital Upgrades ServiceNow to Overweight on Billings, Market Share Momentum

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JG Capital upgraded ServiceNow (NYSE: NOW) from Neutral to Overweight and announced a $38.00 price target.

JG Capital noted, "ServiceNow (NOW) reported a strong Q4 and guided in-line with our estimates for Q1E. Mgmt guided for subscription GMs to increase to 73.5% in Q1E, reflecting increased utilization of their new datacenter. Clearly, NOW continues to gain share from CA and BMC, which appear to have no great response to NOW's low priced SaaS offering. While we had picked up some negative feedback from our field checks regarding scalability issues, it doesn't appear to have slowed NOW's momentum. We note billings accelerated q/q."

ServiceNow closed at $30.20 on Wednesday.

Latest Ratings for NOW

DateFirmActionFromTo
Jan 2015Credit SuisseMaintainsNeutral
Jan 2015CitigroupMaintainsBuy
Jan 2015JMP SecuritiesMaintainsMarket Outperform

View More Analyst Ratings for NOW
View the Latest Analyst Ratings

Posted-In: JG CapitalAnalyst Color Upgrades Analyst Ratings

 

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