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NOW

ServiceNow

$228.26

-12.315 (-5.12%)

05:10
10/23/19
10/23
05:10
10/23/19
05:10

ServiceNow shares may remain range-bound, says Jefferies

While ServiceNow's preliminary Q3 results beat subscriber billings expectations, the implied Q4 subscription revenue and billings guidance were both below consensus, Jefferies analyst Samad Samana tells investors in a research note. The analyst is not sure the Q3 results will be enough to drive shares higher in the near-term given the implied Q4 guidance, the uncertainty created by ServiceNow's leadership changes, and concerns facing high-growth software. However, he sees Bill McDermott as a "solid" CEO hire given his "successful track record in enterprise software." Samana keeps a Buy rating on ServiceNow shares with a $330 price target.

  • 23

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    Dec

NOW ServiceNow
$228.26

-12.315 (-5.12%)

10/16/19
10/16/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Adobe (ADBE) downgraded to Neutral from Buy at Citi with analyst Walter Pritchard saying he believes the stock's risk/reward is "more balanced" with the company's fiscal 2020 guidance "likely to be less conservative." 2. Acuity Brands (AYI) downgraded to Neutral from Outperform at Baird and to Perform from Outperform at Oppenheimer. 3. Costco (COST) downgraded to Neutral from Buy at Northcoast with analyst Chuck Cerankosky citing valuation. 4. ServiceNow (NOW) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Keith Weiss saying the company remains "best-in-class," but it faces increasing near-term risks, including a CFO transition that may result in more cautious initial guidance for FY20 than most investors expect; tougher subscription billings comparisons in the second half of the year; and high expectations with the stock up more than 50% year-to-date. 5. Extraction Oil & Gas (XOG) downgraded to Equal Weight from Overweight at Stephens with analyst Gail Nicholson citing the Q3 production miss, and increased cautiousness around oil. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/17/19
MACQ
10/17/19
NO CHANGE
Target $335
MACQ
Outperform
ServiceNow selloff yesterday a buying opportunity, says Macquarie
Macquarie analyst Sarah Hindlian recommends using the selloff yesterday in shares of ServiceNow as a buying opportunity. The analyst's channel checks suggest a "solid quarter" with North American resellers "pointing well ahead of plan." Further, a CFO appointment is in the final stages and may be announced soon "while Snowflake concerns are overblown," Hindlian tells investors in a research note. She believes investors should be building positions in ServiceNow going into its "seasonally strong" second half of the year. She reiterates an Outperform rating on the shares with a $335 price target.
10/18/19
RBCM
10/18/19
NO CHANGE
Target $320
RBCM
Top Pick
Strong Q3 results, new CFO announcement to support ServiceNow, says RBC Capital
RBC Capital analyst Alex Zukin is keeping his Top Pick rating and $320 price target on ServiceNow ahead of its Q3 results next week. The analyst notes that the his quarter-end checks and the discussions at the recent customer/partner event suggest that the company's performance in the quarter was strong, with better than expected growth in North America. Zukin adds that the decline of 3.4% this week and 14% since the release of Q2 results driven by concerns about EMEA weakness, sales attrition, and management changes sets up potential near term upside catalysts for ServiceNow with the likely announcement of a new CFO and the expected strong Q3 earnings.
10/23/19
MZHO
10/23/19
DOWNGRADE
Target $230
MZHO
Neutral
ServiceNow downgraded to Neutral from Buy at Mizuho
Mizuho analyst Gregg Moskowitz downgraded ServiceNow (NOW) to Neutral from Buy with a price target of $230, down from $308. The stock in premarket trading is down 10%, or $21.84, to $206.50. The company last night surprisingly announced the impending departure of CEO John Donahoe, who is going to head Nike (NKE), and lowered its full year guidance due to currency, Moskowitz tells investors in a research note. Employee attrition has also become a concern, says the analyst, who worries that the departure of Donahoe "could accelerate this trend." As a result, he prefers to move to the sidelines with the respect to the shares.

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DTIL

Precision BioSciences

$11.35

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VIX

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AMRN

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$22.68

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One analyst thinks Amarin could rise toward $50 after positive FDA panel vote »

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$NSD

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PAYS

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$NYE

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QCOM

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, AMAT

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QCOM

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AM

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10:10
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General news
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FBHS

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$63.32

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10:09
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AMRN

Amarin

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10:05
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Amarin call volume above normal and directionally bullish »

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NCNA

NuCana

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KZR

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