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  • Yesterday, 10:47 AM
    • See: WSJ gets hands on list of Salesforce M&A targets
    • Recent management shifts at Tableau Software (NYSE:DATA), labeled with an "In Play" status in the obtained Salesforce target review, are speculated at Stifel to have signaled an effort by the company to remain independent amid revenue deceleration and lowered valuation, making it a more attractive target to a potential acquirer. Tableau Software shares are up by 6% today. N.B. Demandware, acquired by Salesforce in June, is also labeled "In Play" on the document.
    • Pegasystems (NASDAQ:PEGA), though sharply up 5.3% subsequent inclusion in the list, stated it had not participated in any talks with Salesforce relating to an acquisition.
    • ServiceNow (NYSE:NOW), up 4.4%, has offered no comment on the development.
    • Other public names mentioned – Adobe, Workday NetSuite, Veeva Systems, Box, Zendesk, HubSpot
    | Yesterday, 10:47 AM | 2 Comments
  • Tue, Oct. 18, 10:06 PM
    • Among a cache of Colin Powell emails released by hackers was a presentation prepared in May for the (NYSE:CRM) board (on which sits Powell) titled "M&A Target Review."
    • Partial presentation slides
    • The 60-slide document identified 14 possible acquisition targets. Among them were Adobe Systems (NASDAQ:ADBE), whose market cap of $53.7B is above that of Salesforce, and Pegasystems (NASDAQ:PEGA), with a $2.3B valuation.
    • The list also included Demandware, which Salesforce ended up buying, and LinkedIn, which the company lost in a bidding war with Microsoft.
    • Others: Workday (NYSE:WDAY), ServiceNow (NYSE:NOW), NetSuite (NYSE:N), Tableau (NYSE:DATA), Veeva Systems (NYSE:VEEV), BOX, Zendesk (NYSE:ZEN), HubSpot (NYSE:HUBS).
    • CEO Marc Benioff earlier this month when fending off complaints about his interest in Twitter: “We look at a lot of things and we pass on almost everything."
    | Tue, Oct. 18, 10:06 PM | 12 Comments
  • Tue, Oct. 18, 10:39 AM
    • Recent conversations with industry partners indicate strong renewal and net new business in ServiceNow's (NYSE:NOW) Q3, Piper Jaffray analyst Alex Zukin writes in a note.
    • Piper thinks NOW will beat consensus in Q3, which will act as a positive catalyst for the shares.
    • NOW is -12% YTD, and trades at a 14% discount to Workday (WDAY).
    • Zukin is Overweight NOW with a $90 price target. Implied upside 18%.
    | Tue, Oct. 18, 10:39 AM | 1 Comment
  • Thu, Sep. 15, 12:36 PM
    • Starts coverage at Buy rating.
    • Notes ServiceNow's (NOW +4.5%) largest provider position within the IT service management market, expansion in related verticals (IT operations management, customer service management, PaaS, security operations and cloud management), and a healthy addressable market.
    • Shares presently trading at $75.84.
    | Thu, Sep. 15, 12:36 PM | 2 Comments
  • Wed, Jul. 27, 4:03 PM
    • ServiceNow (NYSE:NOW): Q2 EPS of $0.15 beats by $0.05.
    • Revenue of $341.31M (+38.3% Y/Y) beats by $7.35M.
    • Shares -5%.
    • Press Release
    | Wed, Jul. 27, 4:03 PM | 3 Comments
  • Tue, Jul. 26, 5:35 PM
  • Fri, Jul. 15, 12:59 PM
    • Mizuho analyst Abbey Lamba upgrades rating on ServiceNow (NOW +1.2%) to Buy from Neutral with an $85 price target ($70.94 current price).
    • Citing gaining confidence in the company's capacity to execute long-term, Lamba believes a beat on expectations is forthcoming along with a resulting moderate increase in full-year guidance.
    • Expects a total revenue range of $335M-338M (+36-37% Y/Y) vs. consensus of $334M and previous guidance of $332M-335M.
    • Credits market dominance and expansion beyond core strategies in the memo.
    | Fri, Jul. 15, 12:59 PM
  • Wed, Jun. 1, 10:06 AM
    • As part of its continuing expansion into the security operations software market, ServiceNow (NOW +1.4%) is buying BrightPoint Security, provider of a "security command platform" (known as Sentinel) that helps companies manage threat information, automate threat detection and risk analysis, and share intelligence.
    • Terms for the all-cash deal are undisclosed; ServiceNow plans to share more details about the purchase in tandem with its Q2 report. VP Sean Convery: “This acquisition strengthens ServiceNow’s commitment to closing the gap between IT operations and security. BrightPoint will further differentiate the connected experience that ServiceNow users have across security processes and teams.”
    • In February, ServiceNow launched Security Operations, a software solution declared to give "both security and IT teams a single platform to respond to security incidents and vulnerabilities," as well as prioritize security risks and automate various tasks. More recently, the company launched a customer service software offering, as it continues expanding beyond its traditional IT service management software stronghold.
    | Wed, Jun. 1, 10:06 AM
  • Thu, Apr. 21, 1:09 PM
    • Three months ago, cloud/SaaS software firms sold off after cloud IT service management software (ITSM) firm ServiceNow (NOW +14.5%) missed its Q4 billings guidance and offered light 2016 sales guidance. Today, the group is rallying after ServiceNow beat Q1 estimates, provided in-line guidance, and reported billings of $376.7M, up 41% Y/Y and beating guidance of $360M-$365M. The company also reported a 48% Y/Y increase in clients with over $1M in annualized contract value, to 249.
    • Cloud gainers include HR/financials software leader Workday (WDAY +2.3%), ERP/commerce software firm NetSuite (N +4.9%), marketing automation software firms Marketo (MKTO +3.1%) and HubSpot (HUBS +3.2%), talent management software firm Cornerstone OnDemand (CSOD +2.9%), customer support software firm Zendesk (ZEN +3.8%), collaboration/project management software firm Atlassian (TEAM +2.6%), enterprise healthcare software firm Castlight (CSLT +5.4%), and life sciences software firm Veeva (VEEV +2.4%). The Nasdaq is nearly flat.
    • BTIG's Joel Fishbein has hiked his ServiceNow target by $5 to $85, while reiterating a Buy rating. "Strong results across the board suggest that the company continues to see success both in core ITSM and as a broader enterprise service tool. After enjoying most of its public life as a beat-and-raise stock, 2015 was somewhat messy; strong growth and good [key performance indicators] supportive of the bull thesis were overshadowed throughout the year by minor miscues -- a forecasting error, currency adjustments, and inconsistent billings reporting.

      However, 1Q was clean, with strong billings growth, healthy upsells, and metrics showing growing contribution from non-IT services. Law of large numbers is still looming on the horizon but ServiceNow is on the path of being one of a few elite category-leading enterprise SaaS companies. We continue to be buyers of NOW."
    | Thu, Apr. 21, 1:09 PM | 2 Comments
  • Thu, Apr. 21, 12:48 PM
    | Thu, Apr. 21, 12:48 PM
  • Thu, Apr. 21, 9:21 AM
    | Thu, Apr. 21, 9:21 AM
  • Wed, Apr. 20, 5:37 PM
    • Top gainers, as of 5.25 p.m.: NOW +11.5%. ARTX +10.3%. CTXS +6.5%. TSCO +5.6%. AXP +4.1%.
    • Top losers, as of 5.25p.m.: TBI -22.5%. MAT -6.6%. URI -6.3%. MLNX -4.0%. CBI -3.8%.
    | Wed, Apr. 20, 5:37 PM
  • Wed, Apr. 20, 5:24 PM
    • ServiceNow (NOW +2.3%) has jumped 11.5% in late trading after beating expectations on strong across the board revenue growth.
    • Billings rose 41% Y/Y to $376.7M in the company's "best first quarter ever," says CEO Frank Slootman. The company has 249 customers each paying more than $1M in annualized contract value.
    • Revenue by segment: Subscription, $267.4M (up 48.6%); Professional services and other, $38.5M (up 20%).
    • Free cash flow was $67.1M (22% of revenue).
    • For Q2, the company is forecasting total revenues of $332M-$335M (in line with consensus, and representing growth of 35-36%); of that, subscription revenues of $284M-$286M (growth of 42-43%) and professional services/other revenues of $48M-$49M (4-6% growth).
    • For the full year, it's expecting total revenues of $1.355B-$1.38B, in line.
    | Wed, Apr. 20, 5:24 PM | 1 Comment
  • Wed, Apr. 20, 4:01 PM
    • ServiceNow (NYSE:NOW): Q1 EPS of $0.09 beats by $0.02.
    • Revenue of $305.9M (+44.3% Y/Y) beats by $5.02M.
    • Shares +0.01%.
    | Wed, Apr. 20, 4:01 PM | 4 Comments
  • Tue, Apr. 19, 5:35 PM
  • Wed, Apr. 13, 6:13 PM
    • ServiceNow (NYSE:NOW) recorded $270M worth of litigation charges in Q1 related to settlements for patent infringement suits from IT service management (ITSM) software rivals HP Enterprise and BMC Software. (8-K filing)
    • For reference, ServiceNow had $800M in cash/short-term investments at the end of 2015, along with $422M in long-term investments and $475M in long-term debt. Q1 results arrive on the afternoon of April 20.
    | Wed, Apr. 13, 6:13 PM | 1 Comment