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ServiceNow Inc - Stock Quote NOW

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Morningstar's ServiceNow Inc Stock Analysis

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Is it the right time to buy or sell?

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ServiceNow Shows Off at Investor Day; Ups 2026 Revenue Target by $1-Plus Billion; FVE Steady at $700

Dan Romanoff, CPA Senior Equity Analyst

Analyst Note

| Dan Romanoff, CPA |

Wide-moat ServiceNow had a great story to tell at its investor day, focusing on product innovation, its emphasis on being a platform company, and growth. Spoiler alert—the company also raised its 2026 subscription revenue target to more than $16 billion, from $15 billion previously. Despite the increased outlook, we were already estimating $15.6 billion in revenue and are not ready to raise our long-term outlook in the face of mounting macro pressures. Still, we are maintaining our fair value estimate of $700 per share. Given the profound selloff in software stocks and an upside bias to our forecast, we see shares as attractive.

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ServiceNow Inc's Company Profile

Business Description

ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company primarily focuses on the IT function for enterprise customers. ServiceNow began with IT service management (ITSM), expanded within the IT function, and more recently directed its workflow automation logic to functional areas beyond IT, notably customer service, HR service delivery, and security operations. ServiceNow also offers an application development platform as a service (PaaS).

2225 Lawson Lane
Santa Clara, CA, 95054
T +1 408 501-8550
Sector Technology
Industry Software - Application
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Speculative Growth
Employees 16,881

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