In the latest market close, ServiceNow (NOW) reached $779.49, with a +0.34% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.29%. Elsewhere, the Dow saw a downswing of 0.35%, while the tech-heavy Nasdaq depreciated by 0.3%.Coming into today, shares of the maker of software that automates companies' technology operations had lost 1.91% in the past month. In that same time, the Computer and Technology sector gained 3.61%, while the S&P 500 gained 4.42%.Analysts and inves ...

ServiceNow (NOW) ended the recent trading session at $776.88, demonstrating a -1.61% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.19%. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq depreciated by 0.54%.The maker of software that automates companies' technology operations's shares have seen an increase of 2.04% over the last month, not keeping up with the Computer and Technology sector's gain of 2.36% and the S&P 500' ...

hapabapa/iStock Editorial via Getty ImagesSince OpenAI previewed ChatGPT in November 2022, there has been a proliferation of software and cloud companies that claim generative Artificial Intelligence (AI) and other AI technology will be a growth driver for their business. Yet, some of these companies' claims have not met investor expectations for top and bottom-line growth in this challenging spending environment. For instance, Snowflake (SNOW) and Workday (WDAY) are enterprise software vendors that sho ...

A recent survey from Morgan Stanley identified artificial intelligence (AI) as the IT product category likely to see the largest spending increase in 2024. Despite that enthusiasm, businesses have only started to reap the benefits of what could be the most transformative technology in years.Indeed, billionaire hedge fund manager Dan Loeb recently compared AI to the Industrial Revolution, and he wrote the following in a note to clients:We have watched AI evolve and believe the technology has matured to the p ...

ServiceNow (NOW) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this maker of software that automates companies' technology operations have returned -3.9% over the past month versus the Zacks S&P 500 composite's +3.4% change. The Zacks Computers - IT Services industry, to which ServiceNow belongs, has gained 3.9% over this period. Now the key question is ...

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 ...