16 analysts have expressed a variety of opinions on ServiceNow NOW over the past quarter, offering a diverse set of opinions from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 7 | 8 | 1 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 1 | 0 | 0 | 0 |
| 3M Ago | 5 | 7 | 1 | 0 | 0 |
Analysts have set 12-month price targets for ServiceNow, revealing an average target of $666.88, a high estimate of $770.00, and a low estimate of $575.00. Surpassing the previous average price target of $651.27, the current average has increased by 2.4%.
Investigating Analyst Ratings: An Elaborate Study
An in-depth analysis of recent analyst actions unveils how financial experts perceive ServiceNow. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Brad Reback | Stifel | Raises | Buy | $740.00 | $650.00 |
| Joseph Bonner | Argus Research | Raises | Buy | $770.00 | $675.00 |
| Michael Turrin | Wells Fargo | Raises | Overweight | $725.00 | $675.00 |
| Matthew Hedberg | RBC Capital | Raises | Outperform | $680.00 | $665.00 |
| Brad Reback | Stifel | Raises | Buy | $650.00 | $640.00 |
| Rob Owens | Piper Sandler | Raises | Overweight | $620.00 | $600.00 |
| Keith Bachman | BMO Capital | Raises | Outperform | $630.00 | $615.00 |
| Michael Turrin | Wells Fargo | Raises | Overweight | $675.00 | $650.00 |
| Keith Weiss | Morgan Stanley | Raises | Overweight | $648.00 | $630.00 |
| Mike Cikos | Needham | Maintains | Buy | $660.00 | - |
| Joel Fishbein | Truist Securities | Maintains | Hold | $575.00 | - |
| Keith Bachman | BMO Capital | Lowers | Outperform | $615.00 | $630.00 |
| John Difucci | Guggenheim | Maintains | Buy | $657.00 | - |
| Tyler Radke | Citigroup | Lowers | Buy | $700.00 | $734.00 |
| Mike Cikos | Needham | Maintains | Buy | $660.00 | - |
| Patrick Walravens | JMP Securities | Maintains | Market Outperform | $665.00 | - |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to ServiceNow. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of ServiceNow compared to the broader market.
- Price Targets: Analysts predict movements in price targets, offering estimates for ServiceNow's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of ServiceNow's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on ServiceNow analyst ratings.
Discovering ServiceNow: A Closer Look
ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company primarily focuses on the IT function for enterprise customers. ServiceNow began with IT service management, expanded within the IT function, and more recently directed its workflow automation logic to functional areas beyond IT, notably customer service, HR service delivery, and security operations. ServiceNow also offers an application development platform as a service.
Key Indicators: ServiceNow's Financial Health
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: ServiceNow's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2023, the company achieved a revenue growth rate of approximately 24.96%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: ServiceNow's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 10.58%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): ServiceNow's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 3.43%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): ServiceNow's ROA excels beyond industry benchmarks, reaching 1.61%. This signifies efficient management of assets and strong financial health.
Debt Management: ServiceNow's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.31.
What Are Analyst Ratings?
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
