Why ServiceNow Stock Is Surging Today
(NYSE: NOW) stock is making big gains in Thursday's trading. The software company's share price was up 15.1% as of 1:30 p.m. ET, according to data from S&P Global Market Intelligence.
ServiceNow reported second-quarter earnings results after the market closed yesterday, posting sales and earnings that beat Wall Street's expectations for the period. The business recorded non-GAAP (adjusted) earnings per share (EPS) of $3.13 on sales of $2.63 billion. For comparison, the average analyst estimate had called for the business to post adjusted EPS of $2.84 on revenue of $2.61 billion.
ServiceNow's subscription revenues continued to expand, rising 23% on a currency-adjusted basis and reaching $2.54 billion. The company closed out the period with 88 deals worth over $1 million in annual contract value in Q2, up 26% year over year.
Source Fool.com
ServiceNow Inc. Stock
Our community is currently high on ServiceNow Inc. with 86 Buy predictions and 7 Sell predictions.
With a target price of 193 € there is a hugely positive potential of 58.38% for ServiceNow Inc. compared to the current price of 121.86 €.
