IT 和人力资源软件供应商 ServiceNow 正在深入谈判，拟以超过 10 亿美元收购成立五年的安全初创公司 Veza ，据知情人士透露。 Veza 的具体营收暂未公开。其通过亚马逊云服务销售的年度服务合同价格为 10 万美元。公开客户包括投资公司黑石集团、配送平台 Instacart 以及数据云 企业 Snowflake 。 据 LinkedIn 数据显示， Veza 拥有数百名员工，过去一年员工人数增长超 50% 。这家初创公司 4 月份完成融资后估值达 8.08 亿美元，累计融资总额 2.35 亿美元。 今年 3 月， ServiceNow 同意以 28.5 亿美元收购 IT 服务台自动化应答初创公司 Moveworks 。该交易目前正接受美国司法部反垄断审评，仍处待决状态。 参考资料 https://www.theinformation.com/articles/servicenow-advanced-talks-buy-security-startup-least-1-billion?rc=jn0pp4 编译： ChatGPT Veza 的订阅软件帮助企业了解其员工以及自动化软件任务的 AI A ...

Core Insights - Microsoft and ServiceNow represent two distinct strategies in enterprise cloud transformation, with Microsoft being a diversified technology giant and ServiceNow focusing on workflow automation and enterprise service management [1] Microsoft Overview - Microsoft reported revenues of $77.7 billion for Q1 fiscal 2026, an 18% year-over-year increase, with significant growth from Microsoft Cloud [2] - The Intelligent Cloud segment generated $30.89 billion, driven by Azure's strong performance, particularly in AI services, which contributed 16 percentage points to growth [4] - Microsoft continues to expand its AI capabilities, launching new features like Work IQ and Agent 365, enhancing customer relationships and lifetime value [5] - Despite strong revenue growth, Microsoft faces challenges, including a net income loss of $3.1 billion and diluted earnings per share of 41 cents due to investments in OpenAI [6] - The competitive landscape is intensifying, with Microsoft facing competition from Google's Gemini and Amazon's cloud services, leading to stock price volatility [7] ServiceNow Overview - ServiceNow reported third-quarter subscription revenues of $3.3 billion, reflecting a 21.5% year-over-year growth, and raised its 2025 subscription revenue guidance [2][8] - The company achieved an operating margin of 33.5%, exceeding guidance, and raised its full-year operating margin targets to 31% [11] - ServiceNow's AI strategy includes the introduction of an AI Control Tower for monitoring AI agents, enhancing enterprise governance and collaboration [10] - The company has expanded strategic partnerships, including with NTT DATA and Nvidia, to accelerate AI-led transformation and broaden its market reach [12] Valuation and Performance Comparison - Microsoft has a price-to-earnings (P/E) ratio of 28.27, slightly below its 5-year historical average, indicating reasonable valuation relative to growth [13] - ServiceNow trades at a forward P/E of 40.95, reflecting expectations for significant earnings acceleration, justified by its superior growth rates and expanding margins [14] - Year-to-date, Microsoft stock has gained 12%, while ServiceNow has declined 23.3%, creating a more attractive entry point for long-term investors [17] Conclusion - ServiceNow offers compelling upside potential for investors interested in cloud software innovation and AI-driven enterprise transformation, with its specialized platform and strong revenue visibility [19]

​ServiceNow, Inc. (NYSE:NOW) is one of the Best Cloud Stocks to Buy Now. The stock has been down more than 10.7% since the release of its fiscal Q3 2025 results on October 29. However, Wall Street maintains a positive outlook on the stock. ​On October 31, Saiyi He from CMB International reiterated a Buy rating on the stock with a $1,180 price target. A day earlier, Matthew Hedberg from RBC Capital had also maintained a Buy rating on ServiceNow, Inc. (NYSE:NOW) with a $1,200 price target. ​The positive o ...

Core Insights - ServiceNow is expanding its partnership with Microsoft, integrating its AI Control Tower with Microsoft Foundry and Copilot Studio to enhance enterprise-grade orchestration and governance across AI agents and workflows [2][3][4] Company Developments - ServiceNow's subscription revenue guidance for 2025 has been raised to between $12.835 billion and $12.845 billion, indicating a growth of 20% on a non-GAAP constant currency basis and 20.5% on a reported basis compared to 2024 [5] - The company is facing challenges due to tightening budgets from U.S. federal agencies, which may negatively impact subscription revenues in the fourth quarter of 2025 [5] Competitive Landscape - ServiceNow is experiencing stiff competition from Atlassian and Salesforce, with Atlassian focusing on subscription-based solutions that have seen a CAGR of approximately 40% from fiscal 2020 to fiscal 2025 [6] - Salesforce is enhancing its AI capabilities and data cloud business, reporting a 140% year-over-year increase in Data Cloud customer adoption in the second quarter of fiscal 2026 [7][8] Financial Performance - ServiceNow shares have declined by 24.6% year to date, underperforming the broader Zacks Computer and Technology sector, which has returned 25.9% [9] - The forward 12-month price/sales ratio for ServiceNow is 10.83X, significantly higher than the broader sector's 6.61X, indicating that the stock may be overvalued [10]

Core Insights - ServiceNow (NOW) is enhancing its collaboration with Microsoft (MSFT) through new integrations aimed at improving orchestration, governance, and collaboration across AI agents and workflows [1][2] - The partnership will connect ServiceNow's AI Platform with Microsoft 365, Copilot, Foundry, and GitHub, facilitating better management of autonomous AI agents [1][2] - ServiceNow has raised its subscription revenue guidance for 2025 to between $12.835 billion and $12.845 billion, indicating a 20% growth on a non-GAAP constant currency basis [3] Integration and Collaboration - The integration of NOW's AI Control Tower with Microsoft Foundry and Copilot Studio will enable automatic governance across AI agents on Microsoft platforms [2] - ServiceNow Build Agent's integration with GitHub allows secure access to GitHub issues, pull requests, and discussions [2] - Upcoming integration of Now Assist with Microsoft Agent 365 will bring enterprise workflows into Microsoft Word, Outlook, and Teams [2] Competitive Landscape - ServiceNow faces significant competition from Atlassian (TEAM) and Salesforce (CRM), both of which are enhancing their subscription-based solutions and AI capabilities [4][5] - Atlassian has seen a CAGR of approximately 40% in its subscription segment from fiscal 2020 to fiscal 2025, driven by demand for automated communication systems [4] - Salesforce reported a 140% year-over-year increase in Data Cloud customer adoption, indicating strong demand for AI tools that enhance enterprise workflows [5] Financial Performance and Valuation - ServiceNow's stock has declined by 24.6% year to date, underperforming the broader Zacks Computer and Technology sector, which has returned 25.9% [6] - The forward 12-month price/sales ratio for NOW is 10.83X, significantly higher than the sector average of 6.61X, suggesting that the stock may be overvalued [9] - The Zacks Consensus Estimate for fourth-quarter 2025 earnings is $4.35 per share, reflecting an 18.53% year-over-year growth [11]

Core Viewpoint - ServiceNow (NOW) stock presents an attractive investment opportunity due to its high margins, indicative of pricing power and cash generation ability, available at a discounted price [2][10]. Company Overview - ServiceNow is a leading enterprise software company that provides digital workflow solutions aimed at automating operations and enhancing efficiency, supported by a widely adopted platform and strong recurring revenue [3]. Recent Performance - Despite a 23% decrease in stock value this year, NOW has become 35% less expensive based on its Price-to-Sales (P/S) ratio compared to one year ago [4]. - In Q3 2025, ServiceNow recorded 103 deals exceeding $1 million in net new annual contract value, expanding its high-value customer base to 553 accounts with over $5 million in Annual Contract Value (ACV) [5]. Financial Metrics - Remaining Performance Obligations reached $24.3 billion, indicating strong revenue visibility, and management has raised its full-year cash flow margin guidance [5]. - The company boasts a 97% customer renewal rate, underscoring the durability of its solutions [5]. - ServiceNow has demonstrated a 21.1% revenue growth over the last twelve months and a 22.3% growth over the last three-year average [10]. Valuation - NOW stock is currently offered at a P/S multiple of 13.4, representing a 35% markdown compared to one year ago [10].

Core Insights - Both Netflix and ServiceNow are high-growth companies with significant stock price increases over the past decade, each up nearly 900% [1][2] Netflix - Netflix completed a 10-for-1 stock split, reducing the share price from over $1,000 to approximately $114, making it more accessible to a broader investor base [3][5] - The company reported a 17% year-over-year revenue increase to $11.5 billion, driven by member growth, price increases, and advertising strength [5] - Netflix's current valuation stands at about 48 times earnings and 11 times sales, which is considered demanding for a media company, but sustainable double-digit revenue growth could justify this valuation [6] ServiceNow - ServiceNow's subscription revenue reached $3.3 billion in Q3, marking a 22% year-over-year increase, contributing to total revenue growth of 22% to $3.4 billion [7][9] - The company's remaining performance obligations grew by 21% year-over-year to approximately $11.4 billion, indicating a strong backlog of contracted revenue [9] - Free cash flow increased by 18% year-over-year to $592 million, allowing for continued investment in AI capabilities while expanding margins [10] - ServiceNow's board approved a five-for-one stock split, pending shareholder approval, with a forward price-to-earnings ratio of 41, reflecting its growth potential in the AI sector [11]

Core Insights - AppOmni has launched the industry's first real-time agentic AI security for ServiceNow, named AppOmni AgentGuard, which aims to prevent prompt-injection attacks and monitor data loss prevention violations [1][2][3] Group 1: Product Features - AppOmni AgentGuard provides end-to-end protection for ServiceNow AI agents, including discovery, proactive posture, detection, and response [1] - The platform offers complete visibility into Now Assist AI agents, allowing teams to set automated posture guardrails and utilize real-time detection [2] - Key features include AI Agent Inventory for visibility, AI Agent Posture Policy for secure configuration, and Action Analysis & Alerting for monitoring abnormal behavior [4] Group 2: Market Context - ServiceNow is one of the largest SaaS platforms, utilized by 85% of Fortune 500 companies, highlighting the significance of AppOmni's security solutions [2] - The introduction of AI agents in critical business platforms like ServiceNow creates a complex attack surface that organizations need to address [3] Group 3: Research and Development - AppOmni Labs' research has identified real-world security risks, revealing how malicious actors can exploit default configurations to recruit ServiceNow AI agents for data exfiltration and privilege escalation [3]

Group 1 - ServiceNow, Inc. (NYSE: NOW) reported strong Q3 FY25 results, with both revenue and earnings exceeding expectations [1] - Management has raised forward guidance, indicating a positive outlook for future performance [1] - The overall sentiment around the company's performance is bullish, reflecting confidence in its growth trajectory [1] Group 2 - Amrita, who leads a family office fund, focuses on investing in sustainable, growth-driven companies to maximize shareholder equity [1] - The fund's strategy emphasizes democratizing financial literacy and simplifying complex macroeconomic concepts for better understanding [1] - Amrita's newsletter, The Pragmatic Optimist, has gained recognition as a top finance newsletter, showcasing her expertise in portfolio strategy and valuation [1]

Core Insights - ServiceNow is enhancing enterprise AI capabilities through seamless integrations with Microsoft, which facilitates improved collaboration, orchestration, and governance [1] Company Developments - The integration with Microsoft is expected to advance the functionality of ServiceNow's platform, allowing for more efficient workflows and better resource management [1] - This partnership aims to leverage Microsoft's cloud services to enhance ServiceNow's offerings, potentially increasing market competitiveness [1] Industry Impact - The collaboration signifies a growing trend in the industry where companies are increasingly focusing on AI-driven solutions to improve operational efficiency [1] - The integration of AI in enterprise solutions is likely to reshape how organizations manage their processes and governance, indicating a shift towards more automated and intelligent systems [1]