An Analysis of ServiceNow Inc. (NOW)’s Potential Price Growth

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ServiceNow Inc.’s filing revealed that its Director LUDDY FREDERIC B unloaded Company’s shares for reported $2.67 million on Nov 02. In the deal valued at $404.81 per share,6,600 shares were sold. As a result of this transaction, LUDDY FREDERIC B now holds 31,200 shares worth roughly $ 11.29 million.


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Then, Canney Jacqueline P sold 478 shares, generating $200,072 in total proceeds. Upon selling the shares at $418.56, the Chief People Officer now owns 1,327 shares.

Before that, Smith Paul John sold 600 shares. ServiceNow Inc. shares valued at $248,544 were divested by the Chief Commercial Officer at a price of $414.24 per share. As a result of the transaction, Smith Paul John now holds 1,867 shares, worth roughly $0.68 million.

PT values the company’s stock at a premium of 27.65 to its Friday closing price. A number of analysts have revised their coverage, including CapitalOne’s analysts, who began to cover the stock in late October with a ‘”an Overweight”‘ rating. MoffettNathanson also remained covering NOW and has increased its forecast on October 27, 2022 with a “an Outperform” recommendation from previously “Market perform” rating. Guggenheim revised its rating on October 24, 2022. It rated NOW as “a Buy” which previously was an “a Neutral”.

Price Performance Review of NOW

On Friday, ServiceNow Inc. [NYSE:NOW] saw its stock fall -6.18% to $361.75. On the same session, the stock had its day’s lowest price of $354.18, but rose to a high of $389.93. Over the last five days, the stock has lost -13.95%. ServiceNow Inc. shares have fallen nearly -44.27% since the year began. Nevertheless, the stocks have fallen -48.45% over the past one year. While a 52-week high of $707.60 was reached on 01/03/22, a 52-week low of $337.00 was recorded on 10/13/22. SMA at 50 days reached $402.70, while 200 days put it at $476.96. A total of 2.84 million shares were traded, compared to the trading of 1.77 million shares in the previous session.

Levels Of Support And Resistance For NOW Stock

The 24-hour chart illustrates a support level at 347.31, which if violated will result in even more drops to 332.87. On the upside, there is a resistance level at 383.06. A further resistance level may holdings at 404.37. The Relative Strength Index (RSI) on the 14-day chart is 40.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.44, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.57%. Stochastics %K at 40.51% indicates the stock is a holding.

How much short interest is there in ServiceNow Inc.?

A steep rise in short interest was recorded in ServiceNow Inc. stocks on Jul 14, 2022, dropping by -0.31 million shares to a total of 4.0 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 4.31 million shares. There was a decline of -7.75%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.00% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.11.

ServiceNow Inc. [NOW] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 15,723,059 shares, or roughly 7.78% of the outstanding NOW shares. In other words, the investor’s shares have risen by 235,927 from its previous 13-F filing of 15487132.0. Additionally, T. Rowe Price Associates, Inc. decreased -1.40% of its stake after which the total value it holdings stand at $5,293,290,912, while BlackRock Fund Advisors added 1.01% of its stake to hold $3.61 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -78,723 shares of ServiceNow Inc., while Capital Research & Management Co sold 222,292 shares. At present, Morgan Stanley Investment Managem is holding 4,667,228 shares valued at $1.76 billion. Edgewood Management LLC owned 4,122,588 shares of the company at the time of its most recent 13F filing, worth $1.56 billion.

According to FactSet, ServiceNow Inc.’s share price will average $529.83 in the next year, based on opinions of analysts polled by the firm. This is up nearly 33.7 percent from its previous closing price of $385.56. Analysts expect ServiceNow Inc. stock to reach the higher price of $641.00, while the lowest price estimate is $460.00. However, 38 analysts have rated NOW stock as a Buy in their predictions for 2022.

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