ServiceNow (NOW) PT Lowered to $550 at Truist Securities

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Go back to ServiceNow (NOW) PT Lowered to $550 at Truist Securities

ServiceNow Tumbles as Guidance for Subscription Revenue Trails Consensus, Analyst Sees Stock in the Penalty Box

July 28, 2022 9:08 AM EDT

Shares of ServiceNow (NYSE: NOW) are down more than 6% in premarket trading after the companys FY subscription revenue forecast missed expectations.

NOW reported Q2 adjusted EPS of $1.62, compared to $1.42 in the year-ago period, and above the consensus estimates of $1.55 per share. Adjusted revenue came in at $1.82 billion, topping the estimates of $1.76 billion.

The company reported Q2 subscription revenue of $1.66 billion, up 25% YoY, though just below the consensus projection of $1.67 billion. Subscription adjusted gross... More