NOW - ServiceNow, Inc.

NYSE - NYSE Delayed Price. Currency in USD
422.91
-3.46 (-0.81%)
At close: 4:00PM EDT

422.91 0.00 (0.00%)
After hours: 4:43PM EDT

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Short-term KST

Short-term KST

Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close426.37
Open426.50
Bid421.49 x 2200
Ask421.65 x 1000
Day's Range419.46 - 427.78
52 Week Range213.99 - 430.83
Volume1,310,573
Avg. Volume1,996,779
Market Cap80.651B
Beta (5Y Monthly)1.35
PE Ratio (TTM)126.02
EPS (TTM)3.36
Earnings DateJul 29, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est385.17
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Overvalued
-16% Est. Return
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    ServiceNow (NYSE:NOW) stock has a very high valuation. Meanwhile, the company is likely to encounter increased competition, and some sectors of the economy are still struggling. Consequently, I believe that ServiceNow stock could underperform the Nasdaq in the near-term and/or the medium-term.Source: Shutterstock ServiceNow specializes in providing tools that automate companies' information technology (IT) functions. As a result, ServiceNow saves its customers money.Still, a number of companies that are being hit hard by the recession and the pandemic could shy away from making expensive, new commitments. That, in turn, could make it harder for ServiceNow to achieve the rapid growth that Wall Street is expecting. Analysts, on average, predict that its revenue will surge 24% in the second quarter. That's below the 32.6% revenue growth that the company generated in 2019, but it's still pretty ambitious.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Signs of a SlowdownServiceNow has some similarities to Salesforce (NYSE:CRM), which cut its 2020 guidance on May 28. Salesforce predicted that its revenue growth would slow down in Q2 and indicated that its results would come in significantly below analysts' average expectations. * 7 Utilities Stocks to Buy With Reassuring DividendsSalesforce, which I had urged investors to avoid before its results were announced, blamed the novel coronavirus pandemic for its guidance reduction. Since announcing its results, Salesforce stock is down slightly, underperforming the Nasdaq.There are some similarities and some differences between ServiceNow and Salesforce. Both companies sell software-as-a-service that is supposed to enhance companies' bottom lines. (ServiceNow also sells platform-as-a-service solutions). And both are large firms that are still a couple of steps below the giant tech names. Finally, both ServiceNow and Salesforce must generate strong growth to justify their very high valuations. Large-Business Focus Helps ServiceNow StockOn the other hand, I'm more upbeat on ServiceNow. Salesforce is more leveraged to small businesses, while ServiceNow has focused more on Fortune 500 companies. As I've discussed previously, I believe that small businesses are being hit much harder by the current economic downturn than large ones. This is mostly because the sectors that have been most hurt, i.e. the travel and restaurants spaces, tend to have many small businesses. Additionally, larger companies have greater access to the Fed's assistance.Meanwhile, it's probably easier for struggling companies to justify buying ServiceNow's offerings, which could enable them to lay off IT workers. Salesforce's products focus on helping sales teams which could be struggling during the Covid-19 pandemic.Meanwhile, two research firms have issued fairly bearish notes on ServiceNow stock in recent weeks.Specifically, on June 22, Cleveland Research warned that ServiceNow's partners had indicated that "larger deals" were being delayed until Q3, while ServiceNow's customers were not buying as many additional products from it. The firm added that its estimates for ServiceNow's Q1 results were in line with analysts' average estimates than previously.And, after ServiceNow reported its Q1 results on April 29, Piper Sandler downgraded the shares to "neutral" from "overweight," citing valuation. The firm set a $360 price target on the shares, versus the stock's current price of about $419. Competition and ValuationA Seeking Alpha columnist recently noted that, in order to meet Wall Street's growth expectations, ServiceNow will have to enter new vertical markets and take market share from some pretty heavy hitters. Among ServiceNow's new competitors are Salesforce, SAP (NYSE:SAP), Splunk (NASDAQ:SPLK), IBM (NYSE:IBM) and VMware (NYSE:VMW), the columnist stated.Further, due to the disappearance of some companies and the financial cutbacks of others, prices for ServiceNow's older and newer products could come down meaningfully going forward.Finally, ServiceNow stock was trading at a trailing price-sales ratio of about 22, making it quite expensive. The Bottom Line on ServiceNow StockDue to the recession, ServiceNow's growth could easily slow below analysts' average expectations, causing its expensive stock to underperform the Nasdaq.As a result, investors are better off owning other names at this point.Larry has conducted research and written articles on U.S. stocks for 13 years. He has been employed by The Fly and Israel's largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been airline stocks, oil stocks and Snap. You can reach him on StockTwits at @larryramer. As of this writing, he did not own any of the aforementioned stocks. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post ServiceNow Shares Could Be Hurt By the Recession appeared first on InvestorPlace.

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However, physicians emphasized that the once-daily, fixed-dose pill containing relugolix and add-back therapy would more readily convince a physician to prescribe it instead as the dosing schedule of Orilissa can be confusing, even for the prescriber.” MYOV’s candidate produced significantly fewer hot flashes, making Choi even more confident.“In addition to the side effect profile and simple dosing schedule, physicians called out that many OBGYN offices were not equipped to handle the prior authorizations required for use. MYOV has focused efforts here to ensure that the proper tools are delivered to support prior auth requirements,” Choi added.As updated data from the Phase 3 open-label extension study (LIBERTY) evaluating relugolix combination therapy in women with uterine fibroids (UF) was also promising, the deal is sealed for Choi. To this end, the analyst maintained a Buy rating along with a $28 price target, suggesting 40% upside potential. 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That being said, as passenger volumes have started to recover from the low point hit in April and market trends improve, Goldman Sachs is turning more bullish on Southwest Airlines.Representing the firm, analyst Catherine O’Brien doesn’t dispute the fact that since LUV was added to the Americas Sell List on February 19, shares have plummeted 40% compared to the S&P 500’s 8% loss.Singing a different tune now, O’Brien argues that given the airline industry’s focus on driving a rebound from the pandemic-induced lows, “Southwest’s primarily domestic network and industry leading balance sheet will drive a faster-than-industry recovery in profitability.”Specifically looking at the latter, the analyst commented, “Additionally, given that liquidity remains a concern for the industry, balance sheet strength is currently of even more importance than it typically is, in our view.”It should also be noted that LUV shares have historically experienced less turbulence than other players in the space. Therefore, while it boasts less upside potential than some of the firm’s other Buy-rated stocks, the level of upside here is enough to convince O’Brien to stand squarely in the bull camp.As a result, O’Brien just gave LUV a thumbs up, upgrading her rating from Sell to Buy. If that wasn’t enough, the price target also gets a lift, from $35 to $47. Should the target be met, a twelve-month gain of 37% could be in store. (To watch O’Brien’s track record, click here)  In general, other analysts also like what they’re seeing. 11 Buys and 3 Holds add up to a Strong Buy consensus rating. Based on the $42.25 average price target, the upside potential comes in at 23%. (See LUV stock analysis on TipRanks)ServiceNow (NOW)As for Goldman Sachs’ third pick, ServiceNow offers software that delivers digital workflows designed to improve productivity. Given the strength of its technology, the firm sees big things in store for the tech company.After looking at the space as a whole, four-star analyst Christopher Merwin goes so far as to deem NOW a best idea. Expounding on this, he wrote, “We believe the resiliency of the sector throughout COVID underscores the criticality of many software categories as businesses adjust for more distributed workforces and therefore require modernized cloud systems. With sector multiples at all-time highs, we favor stocks where we see compelling relative value.”According to Merwin, NOW is set to be a “key beneficiary of digital transformations as enterprise customers increasingly focus on leveraging a select few strategic platforms that can deliver could-based solutions with ease, agility, and integrations.” Citing its product development, the analyst believes its approach is “best-in-class", with the company continuing to expand into new areas like financial operations management and DevOps.“We believe this rich product roadmap, and ongoing momentum for ITSM, ITOM, HR, and CSM, will all help to sustain 28%-plus subscription revenue growth through FY22E,” Merwin commented. Going forward, its efforts to re-invest in new products in order to increase the addressable market and runway for growth should help NOW reach its long-term revenue target of $10 billion, in the analyst’s opinion.Merwin added, “As software valuations continue to move higher across the space, we believe NOW stands out as an attractively valued stock - particularly on a growth-adjusted FCF, trading at 45.5x our CY21E FCF, relative to FCF growth expectations of 35%.”It should come as no surprise, then, that Merwin stayed with the bulls. In addition to keeping a Buy rating on the stock, the analyst gave the price target a boost, from $403 to $538, which brings the upside potential to 33%. (To watch Merwin’s track record, click here) Do other analysts agree with Merwin? As it turns out, most do. With 19 Buys and 4 Holds assigned in the last three months, the word on the Street is that NOW is a Strong Buy. However, at $396.32, the average price target does indicate 3% downside potential. 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