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ServiceNow Inc (NOW) may enjoy gains as insiders got busy in the recent days

NUE

In a filing, ServiceNow Inc revealed its Officer Bedi Christopher acquired Company’s shares for reported $0.91 million on Sep 19 ’24. In the deal valued at $909.00 per share,1,000 shares were bought.

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Then, Desai Chirantan Jitendra bought 10,000 shares, generating $8,929,280 in total proceeds.

Before that, Bedi Christopher bought 1,343 shares. ServiceNow Inc shares valued at $1,141,550 were divested by the Officer at a price of $850.00 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 Monday, ServiceNow Inc [NYSE:NOW] saw its stock jump 1.43% to $894.39. Over the last five days, the stock has lost -3.37%. ServiceNow Inc shares have risen nearly 26.60% since the year began. Nevertheless, the stocks have risen 61.58% over the past one year. While a 52-week high of $945.46 was reached on 09/23/24, a 52-week low of $527.24 was recorded on 05/31/24. SMA at 50 days reached $838.37, while 200 days put it at $767.26.

Levels Of Support And Resistance For NOW Stock

The 24-hour chart illustrates a support level at 882.14, which if violated will result in even more drops to 869.89. On the upside, there is a resistance level at 900.72. A further resistance level may holdings at 907.05. The Relative Strength Index (RSI) on the 14-day chart is 57.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -10.60, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 49.29%. Stochastics %K at 46.04% 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 2024-09-13, growing by 0.49 million shares to a total of 3.44 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 2.94 million shares. There was a rise of 14.3%, 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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