This Is What Whales Are Betting On ServiceNow
Portfolio Pulse from Benzinga Insights
A whale investor has taken a bearish stance on ServiceNow (NYSE:NOW), with 60% of detected trades having bearish expectations. Whales have been targeting a price range of $450 to $720 for ServiceNow over the last 3 months. Needham downgraded its action to Buy with a price target of $660, while Wells Fargo and Bernstein maintained their positive ratings with price targets of $625 and $665, respectively.
June 26, 2023 | 3:46 pm
News sentiment analysis
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Whale investor takes a bearish stance on ServiceNow, with 60% of detected trades being bearish. Analysts from Needham, Wells Fargo, and Bernstein maintain positive ratings with price targets of $660, $625, and $665, respectively.
The bearish stance taken by the whale investor may create some short-term downward pressure on ServiceNow's stock price. However, the positive ratings and price targets from Needham, Wells Fargo, and Bernstein suggest that the stock has strong potential for growth in the long term. As a result, the short-term impact on the stock price is neutral.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100