ServiceNow Q2: Strong Now Assist Growth

Hunter Wolf Research
2.53K Followers
(7min)

Summary

  • ServiceNow, Inc. released strong Q2 results, beating expectations and raising guidance for FY24.
  • The Now Assist platform saw significant growth, with 11 deals over $1 million in ACV in Q2.
  • ServiceNow's focus on AI technology and expanding platforms is expected to drive 20%+ revenue growth in the near future.

ServiceNow headquarters in Santa Clara, California, USA

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ServiceNow, Inc. (NYSE:NOW) released its Q2 results on July 24th after the market closed, beating the market expectations and raising the subscription revenues and operating margin guidance for FY24. I presented my “Strong Buy” thesis in my

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2.53K Followers
More than 15 years of professional investment experience in global equities across all sectors. My investment style is fundamental, bottom-up, long-term, and quality growth-oriented. I am seeking companies specializing in niche markets, with strong growth potential, a solid management team, a sound capital allocation policy, and, most importantly, reasonable valuation. I do not chase quarterly results, nor do I follow the herd mentality. I do not use short-term stock performance as the measure of a company's quality. I am targeting to achieve a 15% annual return in my portfolio. I typically construct my portfolio with 15-20 stocks, focusing on diversification of holdings, risk management, macro-driven sector weights, and disciplined trading and valuations as key factors.Disclosure: Lighting Rock and I are working in the same investment team. I am writing here independently.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of NOW either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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