BMO Capital Believes ServiceNow (NYSE: NOW) Still Has Room to Grow

By Jason Carr

BMO Capital analyst Keith Bachman reiterated a Buy rating on ServiceNow (NYSE: NOW) yesterday and set a price target of $127. The company’s shares closed yesterday at $121.97, close to its 52-week high of $122.45.

According to TipRanks.com, Bachman is a 5-star analyst with an average return of 13.6% and a 68.3% success rate. Bachman covers the Technology sector, focusing on stocks such as DXC Technology Company, Computer Sciences, and Infosys Limited.

Currently, the analyst consensus on ServiceNow is Strong Buy and the average price target is $124.88, representing a 2.4% upside.

In a report issued on October 1, RBC Capital also reiterated a Buy rating on the stock with a $132 price target.

The company has a one-year high of $122.45 and a one-year low of $72.80. Currently, ServiceNow has an average volume of 1.4M.

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2017, Michael Scarpelli, the CFO of NOW sold 75,000 shares for a total of $8,075,487.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

ServiceNow, Inc. engages in the provision of enterprise cloud computing solutions. It offers customer and facilities service management, orchestration core, service mapping, cloud and portfolio management, edge encryption, performance analytics, service portal designer, visual task boards, and configuration management database.