SERVICENOW INC.

NOW
Delayed Quote. Delayed  - 07/02 04:10:00 pm
414.21USD -0.62%

ServiceNow Inc. : The stock forcefully approaches new pivot levels

Nathan Houtch
Junior Analyst

Strategy published on : 06/29/2020 | 11:14

long trade under condition
Live

Entry price : 403$
Target : 446$
Stop-loss : 391$
Cancellation Level : 354$
Potential : 10.67%

ServiceNow Inc. shares are trading close to a major technical resistance, which, if broken, could yield new upside potential and an increase in volatility. This scenario can be anticipated.
Investors should benefit from the breakout of the $ 403 level to target the $ 446.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

● The company has solid fundamentals for a short-term investment strategy.


Strengths

● According to sales estimates from analysts polled by Standard & Poor's, the company is among the best with regard to growth.

● Thanks to a sound financial situation, the firm has significant leeway for investment.

● The group usually releases upbeat results with huge surprise rates.

● For the last 4 months, the company has been enjoying highly positive EPS revisions, which were frequently and significantly raised.

● Analysts covering this company mostly recommend stock overweighting or purchase.

● The stock is in a well-established, long-term rising trend above the technical support level at 309.39 USD


Weaknesses

● The stock is close to a major daily resistance at USD 402.82, which should be gotten rid of so as to gain new appreciation potential.

● The company's "enterprise value to sales" ratio is among the highest in the world.

● With an expected P/E ratio at 572.81 and 327.61 respectively for both the current and next fiscal years, the company operates with high earnings multiples.

Zonebourse.com 2020
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