Looking for Computer and Technology Stocks? The Zacks Rank Can Help You Find Winners
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Should You Buy #1 (Strong Buy)-Ranked ServiceNow (NOW) for Your Portfolio?
ServiceNow was upgraded to the Zacks Rank #1 list on October 31, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Santa Clara, CA-based ServiceNow Inc. provides cloud computing services that automate digital workflows to accelerate enterprise IT operations. The company’s Now Platform enables enterprises to enhance productivity by streamlining system processes.
11 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.06 to $13.87 per share. NOW boasts an average earnings surprise of 9.5%.
Earnings are forecasted to see growth of 28.7% for the current fiscal year, and sales are expected to increase 22.3%.
Additionally, NOW has climbed higher over the past four weeks, gaining 7.9%. The S&P 500 is up 1% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, ServiceNow could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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