ServiceNow Inc. (NYSE:NOW) shares are trending on Thursday.
Shares of the California-based cloud software company, which helps enterprises connect AI, data and workflows on a single platform, jumped 3.37% to $130.04 in after-hours trading on Wednesday.
In the regular session, NOW closed at $125.80, down 0.94%, according to Benzinga Pro data.
Cramer Flags ServiceNow
On CNBC’s “Mad Money Lightning Round” Tuesday, financial commentator and former hedge fund manager Jim Cramer recommended selling half of ServiceNow and letting the rest run.
The remarks followed ServiceNow’s expanded multi-year partnership with Indian multinational technology services and digital consulting company Tech Mahindra. The deal pairs ServiceNow’s AI Platform with Tech Mahindra’s implementation expertise to help enterprises scale AI deployments beyond pilot stages, particularly across manufacturing, banking and telecom sectors.
Wall Street grew increasingly optimistic on ServiceNow through August.
| Date | Firm | Analyst | Action | Rating Change | Price Target |
|---|---|---|---|---|---|
| Aug 19 | B of A Securities | Tal Liani | PT Raise | Buy | $130 → $150 |
| Aug 17 | TD Cowen | Derrick Wood | Maintained | Buy | $140 |
| Aug 12 | Wells Fargo | Michael Turrin | PT Raise | Overweight | $160 → $175 |
Trading Metrics, Technical Analysis
ServiceNow has a market capitalization of $130.06 billion, a 52-week high of $194.73 and a 52-week low of $81.24.
The Relative Strength Index (RSI) of NOW stands at 58.43.
The tech stock has dropped 29.17% over the past 12 months.
Currently, NOW is positioned at 39.26% of its 52-week range.
Benzinga’s Edge Stock Rankings indicate that NOW is experiencing long-term consolidation along with medium and short-term upward movement.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: bluestork / Shutterstock.com
Login to comment