Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Looking for your thoughts on Service Now. After the pullback on lacklustre FY25 revenue growth is this looking like reasonable entry or could we see further declines towards $800? It seems like if AI is the place for the next 3-5 years NOW should be a key beneficiary of this also. Also in the Forecasts section of the MM website there are no forecasts like other stocks, any reason for this?
Hi Scott,
For subscribers not familiar with NOW its a California based cloud-based software company that provides enterprise solutions for digital workflows. It helps businesses automate and streamline their operations across IT, HR, customer service, and other departments.
On the surface NOW’s earnings last week looked impressive:
However, the stock slipped due to concerns over slightly lower-than-expected subscription revenue growth forecasts. We agree that the business should be a beneficiary of the AI revolution and feel NOW is in an accumulation zone after correcting over 2o%.
There are forecasts on the MM Website for NOW here, though LSEG are not producing the detailed stock report on this company, which is a quant report available on most stocks. It’s a strongly supported stock with consensus price target of ~$US1170, over 25% above Fridays close.
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