Why ServiceNow Stock Is Plummeting Today
(NYSE: NOW) stock is seeing big sell-offs in Thursday's trading. The software company's share price was down 11.3% as of 3:30 p.m. ET and had been down as much as 13.5% earlier in the day's trading.
After the market closed yesterday, ServiceNow published its fourth-quarter results. Despite sales for the period being in line with Wall Street's expectations and earnings beating the average target, relatively disappointing forward guidance is causing the the stock to sink today.
ServiceNow posted non-GAAP (adjusted) earnings per share of $3.67 on revenue of $2.96 billion in the third quarter. For comparison, the average analyst estimate had called for the business to report adjusted earnings of $3.66 per share on $2.96 billion in sales. On the other hand, some investors and Wall Street analysts were betting on a bigger earnings beat for the quarter.
Source Fool.com
ServiceNow Inc. Stock
The stock is one of the favorites of our community with 120 Buy predictions and 4 Sell predictions.
With a target price of 131 € there is a positive potential of 32.03% for ServiceNow Inc. compared to the current price of 99.22 €.
