In the latest trading session, ServiceNow (NOW) closed at $531.02, marking a +1.87% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.08%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 0.28%.Coming into today, shares of the maker of software that automates companies' technology operations had lost 14.4% in the past month. In that same time, the Computer and Technology sector lost 5.11%, while the S&P 500 gained 0.22%.Wall Street will be looking for positivity from ServiceNow as it approaches its next earnings report date. This is expected to be January 26, 2022. In that report, analysts expect ServiceNow to post earnings of $1.43 per share. This would mark year-over-year growth of 22.22%. Meanwhile, our latest consensus estimate is calling for revenue of $1.6 billion, up 28.06% from the prior-year quarter.Investors should also note any recent changes to analyst estimates for ServiceNow. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.22% lower within the past month. ServiceNow is currently a Zacks Rank #4 (Sell).Digging into valuation, ServiceNow currently has a Forward P/E ratio of 72.56. This valuation marks a premium compared to its industry's average Forward P/E of 30.26.We can also see that NOW currently has a PEG ratio of 2.56. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Computers - IT Services stocks are, on average, holding a PEG ratio of 1.46 based on yesterday's closing prices.The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 106, putting it in the top 42% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow NOW in the coming trading sessions, be sure to utilize Zacks.com. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ServiceNow, Inc. (NOW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research