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ServiceNow at all-time highs, earnings report forthcoming

Published: October 18th, 2020 - 1.15am EDT

ServiceNow, Inc. ($NOW) reached all-time highs on Friday prior to presenting the Q3 quarter financial report. Stock only moved a 0.8% closing at $524.87 and marking the new all-time highs at $530.73. These new all-time highs follow after making other 5 highs in the previous days

ServiceNow will host the quarterly earnings call on Wednesday next week. Market forecasts earnings per-share of $1.03, compared to Q2 that was $1.23. Regarding to turn over, the estimates are $0.00.

You must remember that the price action after the financial report release date usually has a higher volatility that may not respect your stop-loss orders.. You can probably obtain more information about the earnings conference call and the financial reports on the Investor Relations section of its website: http://www.servicenow.com.

ServiceNow got 7 new ratings from brokerage companies on Thursday BMO Capital Markets increased the price target from $475.00 to $562.00 with a buy rating and Mizuho forecasts a target price of $560.00, with a rating of strong buy. The success rate of analysts' estimates is not specially high and so should not be taken as a direct recommendation to buy or sell.

ServiceNow stock started an uptrend last March, and gained an amazing 119.68%. During this uptrend, the price gave some entry points on the breakouts. Latest low was in early September, when price bounced at $432.85. ServiceNow broke out above $501.82 (its last top) on October 9. That breakout was a good buying opportunity

ServiceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company offers information technology (IT) service management applications; and digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.. The stock is part of the Software—Application industry in the Technology sector. The firm's Headquarters are in Santa Clara, United States, and has 11,901 employees worldwide. Its corporate website is http://www.servicenow.com.

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