Like 
CRM, successful customers of ServiceNow become locked into the 
NOW ecosystem and as they add functionality to their platform they gain an ever larger share of the IT department OPEX budget. Numbers wise, NOW continues to steamroll forward with Forbes reporting:
From a pre earnings high of $813 to a post earnings low of $663,NOW looks well positioned to march up to new highs, potentially as high as $960/share, with Analyst Day tomorrow May 6th followed by the start of their annual customer conference Knowledge 24 on Tues May 7 where bystanders will see over 20,000 NOW customers flock into the crowded halls of the Sands Convention center in Vegas showing the true strength of their customer base. Buying calls. Good luck All!!
CRM, successful customers of ServiceNow become locked into the NOW ecosystem and as they add functionality to their platform they gain an ever larger share of the IT department OPEX budget. Numbers wise, NOW continues to steamroll forward with Forbes reporting:- Q1 2024 revenue: $2.6 billion — up 24% and $10 million above consensus as tracked by FactSet, noted Investor’s Business Daily.
- Q1 2024 subscription revenues: $2.523 billion — up 24.5% in constant currency, $10 million above the consensus, IBD reported.
- Q1 2024 current remaining performance obligations: $8.45 billion — a 21% increase from the year before and $40 million above consensus, according to IBD.
- Q1 2024 adjusted earnings per share: $3.41 — a 44% increase from the year before and 27 cents per share above the consensus, reported Reuters.
- Q2 2024 subscription revenue forecast: A range between $2.525 billion and $2.530 billion — the midpoint of which is about $1 million below the $2.54 billion London Stock Exchange consensus, according to Reuters.
From a pre earnings high of $813 to a post earnings low of $663,
NOW looks well positioned to march up to new highs, potentially as high as $960/share, with Analyst Day tomorrow May 6th followed by the start of their annual customer conference Knowledge 24 on Tues May 7 where bystanders will see over 20,000 NOW customers flock into the crowded halls of the Sands Convention center in Vegas showing the true strength of their customer base. Buying calls. Good luck All!!Trade active
Update: Knowledge conference in Vegas was well attended. Not sure it it 20k attendees but one highlight was the CNBC interview that CEO gave on the show floor. He even gave a joint interview with Jensen Huang of Nvidia and talked about NOW history of working with 
NVDA on building AI infrastructure to support NOW AI platform. Continue to believe this goes into the 800s in the near term and in 6-12 months could make it to 1000.Trade closed manually
This one hurt....and will hurt for a while.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.