ServiceNow Inc

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Description

ServiceNow was among the high-growth tech stocks that got battered by rising interest rate fears but the company’s share price has recovered. It has yet again delivered results exceeding market expectations as a result of closing a record 135 deals over $1 million, up 50% from the previous year. While their strong cash position allows ServiceNow to remain flexible on the acquisitions front, they have a strong organic growth strategy given the strong demand for digital transformation among its customer base. At the end of the fourth quarter, the company had over 1,350 customers who had paid them more than $1 million in ACV. ServiceNow finished the year with a strong balance sheet, including $4.9 billion in cash and investments, putting them in a strong position to continue investing in strategic initiatives that will help the company grow organically. Despite the recent recovery, we are optimistic about ServiceNow and give the stock a ‘Buy’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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