ServiceNow (NOW) is a Top-Ranked Growth Stock: Should You Buy?
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
ServiceNow (NOW)
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.
NOW sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of A, and has a VGM Score of B. Earnings and sales are forecasted to increase 25.4% and 21.3% year-over-year, respectively.
11 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.25 to $13.52 per share. NOW boasts an average earnings surprise of 12.7%.
ServiceNow is also cash rich. The company has generated cash flow growth of 33.5%, and is expected to report cash flow expansion of 33% in 2024.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, NOW should be on investors' short lists.
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ServiceNow, Inc. (NOW) : Free Stock Analysis Report