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Examining the Potential Price Growth of ServiceNow Inc (NOW)

ServiceNow Inc’s recent filing unveils that its Officer Bedi Christopher acquired Company’s shares for reported $1.14 million on Aug 30 ’24. In the deal valued at $850.00 per share,1,343 shares were bought.

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Then, Tzitzon Nicholas sold 1,857 shares, generating $1,540,716 in total proceeds. Upon selling the shares at $829.68, the Chief Strat & Corp Affairs Ofc now owns 3,649 shares.

Before that, Tzitzon Nicholas bought 1,857 shares. ServiceNow Inc shares valued at $1,540,716 were divested by the Officer at a price of $829.68 per share.

Guggenheim downgraded its ServiceNow Inc [NOW] rating to a Sell from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who remained covering the stock and in late April has reiterated a ‘”an Outperform”‘ rating for it. Guggenheim also remained covering NOW and has decreased its forecast on April 15, 2024 with a “Neutral” recommendation from previously “Buy” rating. KeyBanc Capital Markets started covering the stock on March 21, 2024. It rated NOW as “an Overweight”.

Price Performance Review of NOW

On Friday, ServiceNow Inc [NYSE:NOW] saw its stock fall -0.81% to $878.95. Over the last five days, the stock has gained 6.53%. ServiceNow Inc shares have risen nearly 24.41% since the year began. Nevertheless, the stocks have risen 48.63% over the past one year. While a 52-week high of $889.52 was reached on 09/12/24, a 52-week low of $527.24 was recorded on 05/31/24. SMA at 50 days reached $806.30, while 200 days put it at $755.59.

Levels Of Support And Resistance For NOW Stock

The 24-hour chart illustrates a support level at 873.05, which if violated will result in even more drops to 867.16. On the upside, there is a resistance level at 884.67. A further resistance level may holdings at 890.40. The Relative Strength Index (RSI) on the 14-day chart is 64.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 34.07, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 13.12%. Stochastics %K at 93.42% indicates the stock is a selling.

How much short interest is there in ServiceNow Inc?

A steep rise in short interest was recorded in ServiceNow Inc stocks on 2024-08-30, growing by 32168.0 shares to a total of 3.09 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 3.06 million shares. There was a rise of 1.04%, which implies that there is a positive sentiment for the stock.

The most recent change occurred on January 22, 2024 when Needham resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $900.

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