ServiceNow Analysts Increase Their Forecasts After Better-Than-Expected Q2 Earnings

ServiceNow, Inc.

ServiceNow, Inc.

NOW

0.00

ServiceNow Inc. (NYSE:NOW) posted better-than-expected second-quarter results after Wednesday’s closing bell.

ServiceNow reported quarterly earnings of 90 cents per share, which beat the Street estimate of 85 cents, according to Benzinga Pro data. Quarterly revenue clocked in at $3.99 billion, which beat the analyst consensus estimate of $3.93 billion and was up from $3.22 billion in the same period last year.

"ServiceNow’s exceptional Q2 results solidify our position as the fastest-growing major enterprise software and cybersecurity company," said ServiceNow CEO Bill McDermott.

ServiceNow shares rose 5.5% to $100.67 in pre-market trading.

These analysts made changes to their price targets on ServiceNow following earnings announcement.

  • Jefferies analyst Samad Samana maintained the stock with a Buy and raised the price target from $135 to $140.
  • Evercore ISI Group analyst Kirk Materne maintained the stock with an Outperform rating and raised the price target from $150 to $160.

Considering buying NOW stock? Here’s what analysts think:

Photo via Shutterstock

This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.