ServiceNow (NOW +7.4%) jumps after receiving a two-notch upgrade to Buy from UBS: the firm cites...

|About: ServiceNow (NOW)|By:, SA News Editor

ServiceNow (NOW +7.4%) jumps after receiving a two-notch upgrade to Buy from UBS: the firm cites valuation, growing adoption of ServiceNow's cloud-based IT service desk platform, and the end of major post-IPO share lockups. Yesterday, SA contributor Max Returns declared ServiceNow a buy for many of the same reasons, and noted the company is taking share from incumbents CA and BMC. A whopping 55.3% of the float was shorted as of Jan. 31. (UBS' October downgrade)