In the latest market close, ServiceNow (NOW) reached $1,099.11, with a -0.58% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.04%. Meanwhile, the Dow experienced a rise of 0.07%, and the technology-dominated Nasdaq saw a decrease of 0.05%.

The maker of software that automates companies' technology operations's shares have seen an increase of 6.16% over the last month, surpassing the Computer and Technology sector's gain of 5.93% and the S&P 500's gain of 1.05%.

The investment community will be closely monitoring the performance of ServiceNow in its forthcoming earnings report. The company is predicted to post an EPS of $3.60, indicating a 15.76% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $2.96 billion, reflecting a 21.29% rise from the equivalent quarter last year.

NOW's full-year Zacks Consensus Estimates are calling for earnings of $13.87 per share and revenue of $10.98 billion. These results would represent year-over-year changes of +28.66% and +22.35%, respectively.

Investors should also take note of any recent adjustments to analyst estimates for ServiceNow. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, ServiceNow is carrying a Zacks Rank of #2 (Buy).

In terms of valuation, ServiceNow is currently trading at a Forward P/E ratio of 79.72. This expresses a premium compared to the average Forward P/E of 28.68 of its industry.

It is also worth noting that NOW currently has a PEG ratio of 3.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computers - IT Services industry had an average PEG ratio of 2.83 as trading concluded yesterday.