The most recent trading session ended with ServiceNow (NOW) standing at $741.06, reflecting a +0.12% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.51%. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw an increase of 0.58%.Shares of the maker of software that automates companies' technology operations have depreciated by 4.8% over the course of the past month, underperforming the Computer and Technology ...

SANTA CLARA, Calif.--(BUSINESS WIRE)--ServiceNow (NYSE: NOW), the leading digital workflow company making the world work better for everyone, has been named a Leader in the Forrester Wave™: Third-Party Risk Management Platforms, Q1 2024. This rating recognizes the ServiceNow Third-Party Risk Management solution and comes on the heels of ServiceNow’s recent Now Platform Vancouver release, which included automated inherent risk questionnaires and out-of-the box due-diligence workflows added to the solution to ...

Kevin Dietsch/Getty Images News Introduction ServiceNow (NYSE:NOW) stock has been selected as one of the top 2024 picks by BofA Securities analysts. After doing my own research about the company, I can totally agree with the opinion of analysts from BofA Securities. Having 85% of Fortune 500 companies as NOW's customers indicates the company is dominating its niche in the U.S., the most technologically competitive market. This gives me confidence that NOW is well-prepared to expand its dominance in Europe a ...

Summary of ServiceNow, Inc. Conference Call Company Overview - **Company**: ServiceNow, Inc. (NYSE: NOW) - **Event**: Morgan Stanley Technology, Media & Telecom Conference - **Date**: March 4, 2024 - **Participants**: Gina Mastantuono (CFO), Keith Weiss (Morgan Stanley) Key Points Company Vision and Strategy - ServiceNow aims to be the defining enterprise software company of the 21st century, with a consistent strategy focused on innovation and expanding customer workflows [3][6] - The company has achieved significant milestones, including guiding for over $10 billion in revenue and having three workflows exceeding $1 billion in Annual Contract Value (ACV) [3][7] Financial Performance - ServiceNow is projected to achieve approximately $10.6 billion in subscription revenues, exceeding previous targets despite a challenging spending environment [7][8] - Over 85% of net new ACV comes from existing customers, indicating strong customer retention and platform stickiness with renewal rates of 98-99% [3][8] Market Position and Demand - The company benefits from a broad product portfolio that addresses various enterprise needs, allowing it to maintain strong demand even during economic uncertainty [8][10] - ServiceNow is viewed as a deflationary force, helping customers achieve productivity and cost savings [8][10] Product Portfolio and Innovation - The company has over 12 products with ACV exceeding $250 million, showcasing a diverse product offering [3] - ServiceNow has been proactive in integrating AI into its platform, launching its first AI SKUs in September 2023, and is seeing strong initial customer reception [21][24] Customer Engagement and Spending Trends - CFOs are increasingly involved in digital strategy discussions, indicating a shift towards prioritizing technology investments that drive efficiency [12][10] - The company is cautiously optimistic about 2024, noting an increase in IT spending as reported by Gartner [10][12] Verticalization and Acquisitions - ServiceNow is focusing on vertical-specific solutions, with significant growth in industry vertical solutions, particularly in telecommunications and financial services [45][49] - The recent acquisition of netACE is aimed at enhancing capabilities in the telecommunications sector [49] Partnerships and Market Expansion - A new five-year partnership with AWS will allow ServiceNow offerings to be available on the AWS marketplace, expanding market reach [54][56] Financial Metrics and Guidance - The company maintains a strong outlook with a revenue guide of $15 billion by 2026, and CRPO (Contracted Remaining Performance Obligations) is seen as a key metric for assessing future revenue [59][66] - ServiceNow is focused on maintaining free cash flow margins despite potential pressures from cash taxes and working capital dynamics [67][70] Conclusion - ServiceNow is well-positioned for growth in 2024, leveraging its innovative platform, strong customer relationships, and strategic partnerships to navigate the evolving enterprise software landscape [41][42]

ServiceNow, Inc. (NYSE:NOW) Morgan Stanley Technology, Media & Telecom Conference March 4, 2024 5:10 PM ET Company Participants Gina Mastantuono - CFO Conference Call Participants Keith Weiss - Morgan Stanley Keith Weiss Excellent. Thank you, everyone, for joining us this afternoon. I'm Keith Weiss. I run the US Software research franchise here at Morgan Stanley, and very pleased to have with us from ServiceNow CFO, Gina Mastantuono. Gina, thank you for joining us. Gina Mastantuono Thanks, Keith. Great to ...

Close-up of logo at headquarters of software company Servicenow, Pleasanton, California, July 2, ... [+] 2019. (Photo by Smith Collection/Gado/Getty Images)Gado via Getty ImagesIs generative AI more than hype? For Nvidia comes, the answer is yes. Growth in demand for the company’s AI chips since ChatGPT came on the seen has shown up as triple-digit revenue growth.For other companies, the evidence of demand for their generative AI products is not significant enough to warrant reporting as a distinct source o ...

The latest trading session saw ServiceNow (NOW) ending at $771.34, denoting a +1.52% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.52%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq gained 0.9%.Prior to today's trading, shares of the maker of software that automates companies' technology operations had lost 0.73% over the past month. This has lagged the Computer and Technology sector's gain of 1.9% and the S&P 500's gain of 3. ...

SANTA CLARA, Calif.--(BUSINESS WIRE)--ServiceNow (NYSE: NOW), Hugging Face, and NVIDIA, today announced the release of StarCoder2, a family of open-access large language models (LLMs) for code generation that sets new standards for performance, transparency, and cost-effectiveness. StarCoder2 was developed by the BigCode community, stewarded by ServiceNow, the leading digital workflow company making the world work better for everyone, and Hugging Face, the most-used open-source platform where the machine ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about ServiceNow (NOW) .ServiceNow currently has an average brokerage recommendation (ABR) of 1.18, o ...

Investor interest in the cloud computing industry has exploded recently due primarily to the innovative technology movement occurring with data centers, machine learning, and generative artificial intelligence (AI). Companies such as Alphabet (NASDAQ:GOOGL) have increased their total cloud revenue year-over-year by 26% while Salesforce (NYSE:CRM), one of a handful of pure-play cloud stocks, saw its share price grow by over 75% last year.Overall working conditions for most Americans have drastically changed ...