The Chart of the Day belongs to the cloud computing software company ServiceNow (NOW) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 5/17the stock gained 13.34%.
ServiceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools. It also provides information technology (IT) service management applications; IT service management product suite for enterprise's employees, customers, and partners; strategic portfolio management product suite; IT operations management product that connects a customer's physical and cloud-based IT infrastructure; IT asset management; and security operations that connects with internal and third party. In addition, the company offers integrated risk management product to manage risk and resilience; environmental, social and governance management product; human resources, legal, and workplace service delivery products; safe workplace suite products; customer service management product; and field service management applications. Further, it provides App Engine product; Automation Engine enables application to extend workflows; platform privacy and security product; procurement operations management suite; and professional and customer support services. The company serves government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products through direct sales team and resale partners. It has a strategic partnership with Celonis to help customers identify and prioritize processes that are suitable for automation. The company was formerly known as Service-now.com and changed its name to ServiceNow, Inc. in May 2012. The company was founded in 2004 and is headquartered in Santa Clara, California.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 33.51+Weighted Alpha
- 13.49% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 12 new highs and up 28.55% in the last month
- Relative Strength Index 77.28
- Technical support level at $541.49
- Recently traded at $557.76 with 50 day moving average of $474.69
Fundamental Factors:
- Market Cap $112 billion
- P/E 224.36
- Revenue projected to grow 21.90% this year and another 21.90% next year
- Earnings estimated to increase 25.30% this year, an additional 24.60% next year and continue to compound at an annual rat of 25.15% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts gave 25 strong buy, 9 buy and 3 hold opinions on the stock
- Analysts price targets are between $410 and $665
- The individual investors following the stock on Motley Fool voted 576 to 34 for the stock to beat the market with the more experienced investors voting 82 to 10 for the same result
- Value Line give it their average rating of 3
- CFRAs MarketScope gives it 5 star buy rating with a 12 month price target of $570.
- 65,450 investors monitor the stock on Seeking Alpha
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
