ServiceNow Inc (NYSE: NOW) has seen a decline in its stock price by -0.98 in relation to its previous close of 794.11. However, the company has experienced a 4.30% gain in its stock price over the last five trading sessions. investorplace.com reported 2024-07-01 that Cloud computing has made it easier and more cost effective for companies to store data online. Businesses no longer have to invest in physical servers and storage space to operate smoothly.
Is It Worth Investing in ServiceNow Inc (NYSE: NOW) Right Now?
ServiceNow Inc (NYSE: NOW) has a price-to-earnings ratio that is above its average at 84.07x. The stock has a 36-month beta value of 0.99. Opinions on the stock are mixed, with 17 analysts rating it as a “buy,” 13 as “overweight,” 4 as “hold,” and 0 as “sell.”
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The public float for NOW is 203.99M, and at present, short sellers hold a 1.44% of that float. On July 04, 2024, the average trading volume of NOW was 1.34M shares.
NOW’s Market Performance
NOW’s stock has seen a 4.30% increase for the week, with a 19.12% rise in the past month and a 3.58% gain in the past quarter. The volatility ratio for the week is 2.22%, and the volatility levels for the past 30 days are at 2.12% for ServiceNow Inc The simple moving average for the past 20 days is 7.05% for NOW’s stock, with a 12.42% simple moving average for the past 200 days.
Analysts’ Opinion of NOW
Many brokerage firms have already submitted their reports for NOW stocks, with BMO Capital Markets repeating the rating for NOW by listing it as a “Outperform.” The predicted price for NOW in the upcoming period, according to BMO Capital Markets is $830 based on the research report published on April 25, 2024 of the current year 2024.
KeyBanc Capital Markets gave a rating of “Overweight” to NOW, setting the target price at $1000 in the report published on March 21st of the current year.
NOW Trading at 7.89% from the 50-Day Moving Average
After a stumble in the market that brought NOW to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -3.56% of loss for the given period.
Volatility was left at 2.12%, however, over the last 30 days, the volatility rate increased by 2.22%, as shares surge +16.95% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.86% upper at present.
During the last 5 trading sessions, NOW rose by +4.25%, which changed the moving average for the period of 200-days by +35.60% in comparison to the 20-day moving average, which settled at $740.23. In addition, ServiceNow Inc saw 11.30% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NOW starting from Bedi Christopher, who sale 215 shares at the price of $700.00 back on Jun 05 ’24. After this action, Bedi Christopher now owns 15,892 shares of ServiceNow Inc, valued at $150,500 using the latest closing price.
McBride Kevin Thomas, the Principal Accounting Officer of ServiceNow Inc, sale 100 shares at $659.80 during a trade that took place back on Jun 03 ’24, which means that McBride Kevin Thomas is holding 2,804 shares at $65,980 based on the most recent closing price.
Stock Fundamentals for NOW
Current profitability levels for the company are sitting at:
- 0.1 for the present operating margin
- 0.79 for the gross margin
The net margin for ServiceNow Inc stands at 0.2. The total capital return value is set at 0.09. Equity return is now at value 28.13, with 12.38 for asset returns.
Based on ServiceNow Inc (NOW), the company’s capital structure generated 0.16 points at debt to capital in total, while cash flow to debt ratio is standing at 2.43. The debt to equity ratio resting at 0.19. The interest coverage ratio of the stock is 39.58.
Currently, EBITDA for the company is 1.59 billion with net debt to EBITDA at 0.13. When we switch over and look at the enterprise to sales, we see a ratio of 17.06. The receivables turnover for the company is 7.26for trailing twelve months and the total asset turnover is 0.54. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.98.
Conclusion
To sum up, ServiceNow Inc (NOW) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
