UBS Raising Numbers on ServiceNow (NOW); Strong Start as Public Company

UBS maintains a 'Neutral' on ServiceNow (NYSE: NOW) price target of $28.00 (from $26.00).

Analyst, Brent Thill, said, "Strong start for NOW with key metric billings +98% y/y vs. our +85% estimate which led to a solid FQ2 beat...Raising FY12E billings to +66% from +63%, revs/EPS to $235M/($0.19) from $232M/($0.19) on higher subscription revenue +79% from +77% prior. FY13E revs/EPS to $370M/$0.01 from
$369M/$0.01 on billings +48% y/y."

For an analyst ratings summary and ratings history on ServiceNow click here. For more ratings news on ServiceNow click here.

Shares of ServiceNow closed at $27.71 yesterday.

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