Evercore analyst Kirk Materne maintains $ServiceNow (NOW.US)$ with a buy rating, and adjusts the target price from $850 to $950.
According to TipRanks data, the analyst has a success rate of 60.9% and a total average return of 10.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $ServiceNow (NOW.US)$'s main analysts recently are as follows:
Ahead of the Q3 announcement on October 23, sentiment regarding ServiceNow is positive, as reflected by commentary from three ServiceNow partners which surpassed expectations. Two of the largest partners significantly exceeded their growth targets for their ServiceNow practices, and one indicated a wider cyclical and seasonal uptick in demand starting this summer. This leads to continued confidence in a substantial beat for the current remaining performance obligations in Q3.
The firm expresses augmented certainty in the enduring growth of ServiceNow, highlighting the potential to maintain expansion within its fundamental IT Service Management market. Furthermore, there is an anticipation of growth in novel product domains, with the advantage of a sizable existing customer base to capitalize on upsell potentials.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
