NOW Stock Summary and Trading Ideas (Servicenow | NYSE:NOW)

ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company primarily focuses on the IT function for enterprise customers. ServiceNow began with IT service management, expanded within the IT function, and more recently directed its workflow automation logic to functional areas beyond IT, notably customer service, HR service delivery, and security operations. ServiceNow also offers an application development platform as a service.

Servicenow trades on the NYSE stock market under the symbol NOW.

As of April 19, 2024, NOW stock price declined to $714.88 with 471,933 million shares trading.

NOW has a beta of 1.47, meaning it tends to be more sensitive to market movements. NOW has a correlation of 0.41 to the broad based SPY ETF.

NOW has a market cap of $146.59 billion. This is considered a Large Cap stock.

Last quarter Servicenow reported $2 billion in Revenue and $3.11 earnings per share. This beat revenue expectation by $37 million and exceeded earnings estimates by $.32.

In the last 3 years, NOW stock traded as high as $815.32 and as low as $337.00.

The top ETF exchange traded funds that NOW belongs to (by Net Assets): RAYD, VTI, VOO, SPY, IVV.

NOW has outperformed the market in the last year with a return of +50.2%, while the SPY ETF gained +21.9%. However, in the most recent history, NOW shares have underperformed the stock market with its stock returning -4.2% in the last 3 month period and -5.6% for the last 2 week period, while SPY has returned +4.9% and -2.9%, respectively.

NOW support price is $717.49 and resistance is $745.23 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NOW stock will trade within this expected range on the day.