25 Jun

ServiceNow Stock Easily Outperformed Markets This Year

WRITTEN BY Aditya Raghunath

ServiceNow stock returns

Shares of high-growth technology company ServiceNow (NOW) have gained close to 16.0% since April 2019. It’s gained over 60.0% since the start of 2019.

ServiceNow had an encouraging run in 2018, when it gained 32.0% in market value. In comparison, the broader markets had a disappointing 2018. Like most high-growth tech stocks, NOW has created significant investor wealth over the years. It’s returned 336.0% in the last three years and 365.0% in the last five years, easily outperforming the broader markets in the long run.

NOW is currently trading 94.0% above its 52-week low of $147.63 and 2.5% below its 52-week high of $292.98. The SPDR S&P 500 Index (SPY) has generated a return of 18.2% YTD (year-to-date). It’s gained 8.8% in the last 12 months, 49.2% in the last three years, and 64.9% in the last five years.

The Invesco QQQ Trust, Series 1 ETF (QQQ) has generated a return of 22.5% YTD. QQQ has risen 8.0% in the last 12 months, 80.4% in the last three years, and 113.0% in the last five years.

What do the technical indicators suggest?

ServiceNow is trading at $285.74, which means that it’s trading at the following levels:

  • 14.1% above its 100-day moving average of $250.43
  • 8.0% above its 50-day moving average of $264.72
  • 5.6% above its 20-day moving average of $270.49

RSI and MACD

ServiceNow has an MACD (moving average convergence divergence) score of 12.6. A stock’s MACD marks the difference between its short-term and long-term moving averages. NOW’s positive MACD score indicates an upward trading trend.

NOW stock has a 14-day RSI (relative strength index) score of 62, which shows that its stock is trading close to overbought territory. An RSI score of above 70 indicates that a stock is overbought, while an RSI score of below 30 indicates that a stock is oversold.

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