Recent exceptional positive changes in investment behavior have benefitted ServiceNow Inc (NYSE: NOW): the stock rose on very heavy volume, and the stock’s recent price rise disrupted its longer term downtrend.
ServiceNow Inc (NYSE: NOW) has benefited from notable positive changes in fundamentals: significant quarterly earnings acceleration occurred, and the consensus estimate for December, 2024 increased significantly.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
NOW’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
ServiceNow has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. ServiceNow has a poor Appreciation Score of 23 but a good Power Rating of 82, with the Neutral Value Trend Rating the result.
Recent Price Action
On 6/5/24, ServiceNow Inc (NYSE: NOW) stock enjoyed a large increase of 4.8%, closing at $704.11. Moreover, exceptionally high trading volume at 205% of normal accompanied the advance. Relative to the market the stock has been strong over the last nine months but has declined -3.4% during the last week.
Be the first to comment