ServiceNow stock has surged 60.3% in a year, with strong growth prospects and strategic partnerships.

From Nasdaq: 2024-12-12 09:24:00

ServiceNow (NOW) shares have surged 60.3% in the past year, surpassing sector and industry returns. Its expanding GenAI portfolio, strong partner base with Amazon, Microsoft, and NVIDIA, and trading above moving averages indicate a bullish trend. NOW’s latest Xanadu update offers AI solutions for various industries, driving growth prospects.

NOW has raised its subscription revenue guidance for 2024, expecting a 23% increase from 2023. The company’s earnings estimate for 2024 is $13.87 per share, with steady trends. With a strong liquidity position and attractive prospects, NOW stock is trading at a premium due to its robust GenAI portfolio and partner base.

ServiceNow’s collaboration with Amazon Web Services, Microsoft, and NVIDIA strengthens its AI capabilities. The company’s strategic partnerships with various firms are expected to boost its market share. NOW’s strong portfolio is driving subscription revenues, with a Zacks Rank #2 (Buy) and a Growth Score of B, indicating a strong investment opportunity. ServiceNow’s premium valuation is justified by its growth prospects.



Read more at Nasdaq: ServiceNow Rises 60% in a Year: Will the Momentum Continue in 2025?