ServiceNow stock has surged over 1,300% in the past decade, with strong revenue growth.

From Nasdaq: 2024-10-30 07:15:00

ServiceNow (NYSE: NOW) has been a top stock performer, gaining over 1,300% in the past decade and up 35% in 2024. Its Q3 earnings saw revenue rise 22% to $2.8 billion, beating estimates. Subscription revenue increased 23% to $2.7 billion, with adjusted EPS of $3.72 surpassing analyst expectations.

ServiceNow is a SaaS company excelling in AI software, with its latest release Xanadu focusing on generative AI. The company’s RPO grew 26% to $19.5 billion, indicating strong future revenue growth. With a forward PS ratio of 15, investors see potential for further growth, but cautious due to high valuation.

ServiceNow forecasts Q4 subscription revenue to grow by 21.5%, with full-year estimates showing 23% growth. The company aims to capitalize on the AI opportunity, positioning itself for sustained growth. Investors considering investing should weigh risks and potential returns, as outlined by Motley Fool Stock Advisor’s recommendations.



Read more at Nasdaq: Up 1,300% in the Past Decade, Can This Hot Stock Continue Its Momentum?