ServiceNow (NOW): New Buy Recommendation for This Technology Giant

In a report released today, Brian Schwartz from Oppenheimer maintained a Buy rating on ServiceNow (NOWResearch Report), with a price target of $505.00. The company’s shares closed last Wednesday at $448.60, close to its 52-week low of $406.47.

According to TipRanks.com, Schwartz is a top 100 analyst with an average return of 19.6% and a 62.1% success rate. Schwartz covers the Technology sector, focusing on stocks such as Clearwater Analytics Holdings, Zeta Global Holdings Corp, and Qualtrics International.

ServiceNow has an analyst consensus of Strong Buy, with a price target consensus of $582.88, representing a 34.9% upside. In a report issued on July 14, Morgan Stanley also maintained a Buy rating on the stock with a $575.00 price target.

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ServiceNow’s market cap is currently $84.76B and has a P/E ratio of 408.34.

Based on the recent corporate insider activity of 160 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NOW in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 2004 and based in California, ServiceNow, Inc. is a software company which provides enterprise cloud computing solutions to help companies manage digital workflows for enterprise operations. The company offers its solutions to various sectors including healthcare, education, oil and gas, telecommunications, government, consumer products, technology, IT and financial services.

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