422.91 0.00 (0.00%)
After hours: 4:43PM EDT
|Bid||421.49 x 2200|
|Ask||421.65 x 1000|
|Day's Range||419.46 - 427.78|
|52 Week Range||213.99 - 430.83|
|Beta (5Y Monthly)||1.35|
|PE Ratio (TTM)||126.02|
|Earnings Date||Jul 29, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||385.17|
Citigroup analyst Walter Pritchard on how to position your software holdings depending on your view of the broader economy.
ServiceNow's (NOW) AIOps and CSM offerings have been selected by Zoom to launch new service and deliver enhanced customer experience.
ServiceNow (NYSE: NOW) and Deloitte announced today that the two organizations have extended their strategic alliance to help customers accelerate their HR Service Delivery (HRSD) efforts and provide employees with exceptional digital experiences, anywhere. Together, ServiceNow and Deloitte will conduct joint go-to-market activities to support ServiceNow’s HRSD solution through global sales, enablement, and training activities. Leveraging its demonstrated track-record of success with ServiceNow and other Human Resource technology solutions, Deloitte will collaborate with ServiceNow to expand product features and functions which create business value at scale for joint customers.
ServiceNow to Announce Second Quarter 2020 Financial Results on July 29
ServiceNow (NOW) closed at $411.74 in the latest trading session, marking a -1.13% move from the prior day.
Shares of cloud enterprise software company ServiceNow (NYSE: NOW) rose 43.5% in the first half of 2020, according to data from S&P Global Market Intelligence. Combined with a solid first-quarter earnings report and better-than-feared guidance, ServiceNow shares logged a terrific first-half performance. In the first quarter, ServiceNow logged 34% revenue growth and earnings per share of $0.24, with both figures beating expectations.
Zoom announced a new Hardware as a Service offering today that will run on the ServiceNow platform. At the same time, the company announced a deal with ServiceNow to standardize on Zoom and Zoom Phone for its 11,000 employees in another case of SaaS cooperation. For starters, the new Hardware as a Service offering allows customers, who use the Zoom Phone and Zoom Rooms software, to acquire related hardware from the company for a fixed monthly cost.
Zoom Video ZM and ServiceNow agreed to a deal by which the videoconferencing and cloud-software companies will use each other's services.
Zoom Video Communications, Inc. (NASDAQ: ZM) and ServiceNow (NYSE: NOW) today announced a commitment to each other’s technology solutions to make work-anywhere experiences work even better.
ServiceNow (NYSE:NOW), the leading digital workflow company that makes work, work better for people, today announced that Paul Smith has joined the company as Senior Vice President and General Manager, EMEA, effective July 7, 2020. Smith joins the company from Salesforce, where he held a number of pan EMEA roles and most recently served as Executive Vice President and UK General Manager.
Brook Dane, Goldman Sachs Asset Management, joins Yahoo Finance's The First Trade to discuss the overall tech sector and more.
We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. We are almost done with the second quarter. Investors decided […]
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.
The COVID-19 pandemic has decimated the U.S. economy, yet the stock market is alive and well. Against the backdrop of a recession, the market actually had its strongest quarter in over 20 years, with the S&P 500 notching its largest quarterly gain since the last quarter of 1998, surging 20%. As for the NASDAQ, it climbed 31% higher during the quarter, marking its best quarterly performance since Q4 1999.While certainly volatile, the quarter saw investors take an optimistic approach due to reopening efforts and unprecedented stimulus packages. That being said, going forward into Q3, plenty of uncertainty is lingering over Wall Street. So, how are investors supposed to lock in on compelling plays? The Street’s pros can provide some much-needed inspiration, namely those from investment firm Goldman Sachs.Taking all of this into consideration, we used TipRanks’ database to learn more about three stocks backed by Goldman Sachs. As it turns out, the firm’s analysts projecting more than 30% upside potential for each. The rest of the Street is on the same page, with each ticker earning a “Strong Buy” consensus rating.Myovant Sciences (MYOV)Combining purpose-driven science, empowering medicines and transformative advocacy, Myovant Sciences wants to change the treatment landscape for both women and men. On the heels of its recent data readout, Goldman Sachs is even more optimistic about this healthcare name.Covering this stock for the firm, five-star analyst Paul Choi tells clients that a key component of his bullish thesis is its relugolix asset. MYOV recently published positive Phase 3 data from its SPIRIT 1 study evaluating a once-daily relugolix combination therapy in women with endometriosis. This data supported the data from the previously reported SPIRIT 2 study.Looking more closely at the results, 74.5% of patients saw a clinically meaningful reduction in dysmenorrhea compared to 26.9% of women in the placebo group, with the placebo-adjusted difference landing at 47.6%. Choi notes that Orilissa, the currently approved therapy for moderate to severe pain caused by endometriosis, demonstrated a 27%/21% (two trials) placebo-adjusted difference for its 150 mg once-daily therapy and a difference of 56%/50% for its 200 mg twice daily dose.However, Orilissa can cause hypoestrogenic symptoms including hot flashes and loss of bone mineral density. Choi pointed out, “To avoid this, physicians can co-prescribe progestin and/or estradiol (add-back therapy). 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. (To watch Choi’s track record, click here) Most other analysts also take a bullish approach. MYOV’s Strong Buy consensus rating breaks down into 3 Buys and only 1 Hold. Additionally, the $27.33 average price target puts the upside potential at 36%. (See MYOV stock analysis on TipRanks)Southwest Airlines (LUV)It’s no secret that COVID-19 has dealt the travel industry a swift blow. 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. (See ServiceNow stock-price forecast on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
ServiceNow's (NOW) acquisition of Sweagle is expected boost customer experience through rapid deployment of applications and infrastructure as well as preventing process disruptions.
Several large-caps have skyrocketed during the first half of 2020 while the broad market is yet to fully recover from the impacts of pandemic.
ServiceNow, which includes in its product catalog an IT Help Desk component, recognizes that help desks have been bombarded during the pandemic. To help stop configuration problems before they start, the company today acquired Sweagle, a configuration management startup based in Belgium. ServiceNow gets a couple of boosts in the deal.
With people now preferring to work remotely due to the growing number of cases of coronavirus, cloud stocks are been keenly watched by investors.