NOW Stock Forecast: NOW Stock Price reached its 52-wk low.

NOW Stock Forecast: NOW Stock Price reached its 52-wk low.

NOW Stock Forecast: The stock is a Strong Sell. Service Now’s stock price has reached its 52-wk low


NOW Stock Forecast: Latest Price

NOW Stock Forecast: Recent Performance

5 days 1 month YTD
NOW-8.7%-13.4% -39.8%
NASDAQ-12.1%-15.7%-41.2%

NOW Stock Forecast: Latest News

  • Servicenow has recently released its “Now platform Tokyo” to help various organizations in their business challenges and also rolled out many new features in the platform to improve engagement, productivity, and customer and employee experiences.
  • In addition to the latest innovations such as Enterprise Asset Management, Supplier Lifecycle Management, and ESG Management, it is now also introducing new Telecom and Enterprise legal solutions to improve communication service providers and legal teams’ operations.
  • There is a recent insider selling that happened on September 19th by General Counsel Elmer Russel S who sold 2666 shares at an average price of $422.80 which totals $1.1 Million.
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NOW Stock Forecast: Google Trends

The search volume for NOW stock is lower for the day.

NOW Stock Forecast: Positive Factors

  • High renewal rates and Customer base: The company’s renewal rate is around 99% which shows the customers’ trust in the company’s services and has more than 1400 customers out of which 100 customers pay over $10 million.
  • High Revenues: The company is seen solid growth and has performed well in the second quarter with its revenues standing at $1.75 Billion.
  • Rise of remote work and digitalization: With the increase in remote jobs since the pandemic along with the increasing need for digital services, the company expects its annual revenue to grow to $16 billion by 2026.

NOW Stock Forecast: Negative Factors

  • Interest rates: The increasing interest rates over the past year can be seen as a concern.
  • Recession: The fears of recession can also be considered a negative factor.

NOW Stock Price Prediction: Short Term Outlook

OverallNeutral
Market’s WisdomNeutral
Market DataHigher
Volume DataHigher
Performance vs NASDAQLower
Technical Recommendation Sell
Crowd’s WisdomNeutral
Google SearchLower
Social Media SentimentHigher

Moffett Nathanson, analyst Jackson Ader has started covering ServiceNow and has a “hold” rating with a price target of $553.

NOW Stock Forecast: Latest Tweet

NOW Stock Forecast: Q2 Results

  • ServiceNow has released its 2nd quarter reports which ended on June 30th, 2022.
  • Its Subscription revenues are $1.6 Billion in Q2 2022, up 25% year-over-year.
  • Its Total revenues are $1.75 Billion in Q2 2022, up 24% year-over-year growth and up 1.7% quarter-over-quarter.
  • Its gross profit is $1.36 Billion, up 0.74% q-q.
  • Its operating income is $22 Million decreased by 74.7% q-q whereas its operating expenses increased by 5.9% from $1.2 Billion to $ 1.3 Billion.
  • The company’s revenue per share is at $8.72 compared to $8.61 in the previous quarter.
  • It reported that it crossed 100 customers who pay over $10 million in annual contract value in Q2, up more than 50% y-y.

NOW Stock Forecast: Conclusion

ServiceNow is one of the leading companies in the ITSM sector with a great customer base and good management support along with strong financials. The stock price has reached the lowest in this year but analysts are bullish and are expecting to increase in the future.

Vaishnavi Bommu

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NOW Stock Forecast: The stock is a strong sell.

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

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