ServiceNow (NYSE:NOW) Shares Up 8.9% – What’s Next?
by Teresa Graham · The Cerbat GemServiceNow, Inc. (NYSE:NOW – Get Free Report)’s share price was up 8.9% on Monday . The company traded as high as $104.68 and last traded at $103.5170. Approximately 50,420,333 shares changed hands during trading, an increase of 130% from the average daily volume of 21,940,248 shares. The stock had previously closed at $95.07.
More ServiceNow News
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: Bank of America reinstated ServiceNow (NOW) at Buy with a $130 price target, framing the company as a beneficiary of the agentic AI era and signaling meaningful upside from current levels. Benzinga article
- Positive Sentiment: ServiceNow announced a new global, multi-year partnership with Experian to embed data and decisioning tools into its AI platform, which could strengthen its enterprise workflow offering and support future growth. Yahoo Finance article
- Positive Sentiment: Analysts and market commentary suggested fears that AI will disrupt ServiceNow’s business are overstated, with some arguing AI could actually expand demand for the company’s workflow automation products. Investopedia article
- Positive Sentiment: Wall Street attention toward application-software names has improved, and ServiceNow is being viewed as a leader that could help signal a broader rebound in the software sector. MarketWatch article
- Neutral Sentiment: Some technical commentary still points to longer-term weakness and prior losses tied to “SaaSpocalypse” and AI-disruption concerns, but those worries appear secondary to today’s bullish analyst and partnership news. Invezz article
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. FBN Securities dropped their target price on shares of ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. BMO Capital Markets cut their target price on ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Citizens Jmp reaffirmed a “market outperform” rating and set a $157.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. DA Davidson restated a “buy” rating and issued a $190.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Raymond James Financial dropped their target price on ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.89.
Get Our Latest Stock Analysis on NOW
ServiceNow Stock Performance
The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market cap of $106.73 billion, a price-to-earnings ratio of 61.69, a P/E/G ratio of 1.61 and a beta of 0.82. The firm’s 50-day moving average is $100.52 and its two-hundred day moving average is $128.64.
ServiceNow (NYSE:NOW – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 earnings per share. As a group, sell-side analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current year.
Insider Transactions at ServiceNow
In other news, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Fipps sold 3,696 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the transaction, the insider owned 8,061 shares in the company, valued at $820,367.97. The trade was a 31.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 22,415 shares of company stock valued at $2,210,933. 0.34% of the stock is owned by insiders.
Hedge Funds Weigh In On ServiceNow
A number of hedge funds have recently modified their holdings of NOW. Avidian Wealth Enterprises LLC boosted its stake in ServiceNow by 2.5% during the third quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock worth $417,000 after buying an additional 11 shares during the period. Meridian Wealth Advisors LLC raised its stake in shares of ServiceNow by 2.2% in the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after acquiring an additional 12 shares during the period. Valley Brook Capital Group Inc. lifted its holdings in shares of ServiceNow by 2.1% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider’s stock worth $583,000 after acquiring an additional 13 shares during the last quarter. Catalyst Financial Partners LLC lifted its holdings in shares of ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock worth $1,169,000 after acquiring an additional 13 shares during the last quarter. Finally, JT Stratford LLC boosted its position in shares of ServiceNow by 3.5% during the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock worth $354,000 after purchasing an additional 13 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.
About ServiceNow
ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.
The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.