ServiceNow shares are under pressure. Why is NOW stock trading lower?
Earnings Preview & HistoryServiceNow is scheduled to report second-quarter earnings on July 22. The company is expected to report earnings per share of 76 cents along with revenue of $3.93 billion. For the prior quarter, ServiceNow reported earnings per share of 97 cents, beating the consensus estimate of 80 cents. The company also posted revenue of $3.77 billion, exceeding the consensus estimate of $3.75 billion.ServiceNow has beaten EPS estimates in eight consecutive quarters. Over the last four quarters, the company has averaged an EPS surprise of 0.33% and a revenue surprise of 0.02%.Analyst Consensus & Recent Actions The stock carries a Buy rating with an average price forecast of $135.63. Recent analyst moves include:
DA Davidson: Buy (Lowers Target to $170.00) (July 20)
Cantor Fitzgerald: Overweight (Raises Target to $141.00) (July 20)
CLSA: Initiated with Underperform (Target $72.00) (July 20)
