Barclays analyst Raimo Lenschow maintains $ServiceNow (NOW.US)$ with a buy rating, and adjusts the target price from $890 to $980.
According to TipRanks data, the analyst has a success rate of 48.3% and a total average return of 0.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $ServiceNow (NOW.US)$'s main analysts recently are as follows:
Amid an assessment of the Q3 earnings outlook for the software sector, it has been observed that supplier checks have shown a decrease, which tempers the enthusiasm for software stocks during this earnings period. Despite this, there is a positive outlook for certain companies, anticipated to possibly report earnings that exceed expectations and raise future guidance, while for others, the sentiment is more cautious due to weaker checks, although this sentiment could potentially already be reflected in their current market valuation.
The firm's enhanced confidence in ServiceNow's sustained growth potential is highlighted by the expectation that the company will continue to grow in its core IT Service Management market and expand in new product domains. The company's sizeable established customer base is seen as a strategic asset for upselling new offerings.
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.
