Zacks: Analysts Expect ServiceNow Inc (NYSE:NOW) Will Post Quarterly Sales of $1.05 Billion

Equities research analysts expect ServiceNow Inc (NYSE:NOW) to report sales of $1.05 billion for the current quarter, according to Zacks. Ten analysts have issued estimates for ServiceNow’s earnings, with estimates ranging from $1.04 billion to $1.05 billion. ServiceNow reported sales of $833.90 million during the same quarter last year, which would suggest a positive year over year growth rate of 25.9%. The company is expected to report its next quarterly earnings report on Wednesday, July 22nd.

On average, analysts expect that ServiceNow will report full year sales of $4.34 billion for the current fiscal year, with estimates ranging from $4.33 billion to $4.35 billion. For the next year, analysts expect that the firm will report sales of $5.44 billion, with estimates ranging from $5.27 billion to $5.64 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover ServiceNow.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 29th. The information technology services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. ServiceNow had a net margin of 18.19% and a return on equity of 9.47%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm earned $0.67 earnings per share. ServiceNow’s revenue for the quarter was up 32.6% compared to the same quarter last year.

Several research firms have commented on NOW. Robert W. Baird lowered shares of ServiceNow from an “outperform” rating to a “neutral” rating and set a $300.00 target price on the stock. in a report on Thursday, April 2nd. SunTrust Banks lifted their price target on shares of ServiceNow from $350.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Royal Bank of Canada decreased their price target on shares of ServiceNow from $370.00 to $356.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Needham & Company LLC lifted their price target on shares of ServiceNow from $383.00 to $440.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Morgan Stanley lifted their price target on shares of ServiceNow from $307.00 to $336.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Six analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $365.07.

NOW stock traded up $10.08 during mid-day trading on Wednesday, hitting $385.13. The stock had a trading volume of 1,526,582 shares, compared to its average volume of 1,793,643. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. ServiceNow has a 52 week low of $213.99 and a 52 week high of $405.53. The firm has a market capitalization of $71.52 billion, a P/E ratio of 112.61, a P/E/G ratio of 13.21 and a beta of 1.35. The firm has a fifty day simple moving average of $365.35 and a 200 day simple moving average of $315.81.

In other ServiceNow news, insider Fay Sien Goon sold 1,805 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $382.09, for a total transaction of $689,672.45. Following the completion of the sale, the insider now owns 686 shares in the company, valued at approximately $262,113.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chirantan Jitendra Desai sold 16,982 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $342.09, for a total transaction of $5,809,372.38. Following the sale, the insider now owns 38,185 shares of the company’s stock, valued at approximately $13,062,706.65. The disclosure for this sale can be found here. Insiders have sold a total of 319,600 shares of company stock valued at $108,795,151 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtus ETF Advisers LLC bought a new stake in shares of ServiceNow in the 4th quarter worth $29,000. 1776 Wealth LLC boosted its holdings in shares of ServiceNow by 205.9% in the 1st quarter. 1776 Wealth LLC now owns 104 shares of the information technology services provider’s stock worth $29,000 after buying an additional 70 shares during the last quarter. Sun Life Financial INC purchased a new position in shares of ServiceNow in the 4th quarter worth about $31,000. BDO Wealth Advisors LLC purchased a new position in shares of ServiceNow in the 1st quarter worth about $31,000. Finally, HHM Wealth Advisors LLC purchased a new position in shares of ServiceNow in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 92.30% of the company’s stock.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Earnings History and Estimates for ServiceNow (NYSE:NOW)

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