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Monday, September 20, 2021
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Big Tech is Momentum Driven

$NOW

Here is a solid pick for the more aggressive growth accounts, aka Portfolio Alpha.

ServiceNow had a strong Y 2019 and is still a Top pick. ServiceNow Inc (NYSE:NOW) develops and sells a hosted, subscription-based suite of services designed to automate various IT department functions, such as help desk, operations management and change/release management.

Also, NOW sells a number of applications that automate various self-service related applications outside of the IT department, such as HR onboarding, facilities requests and governance, risk and compliance.

ServiceNow has consistently posted strong Quarterly results and we feel very good about where the company is headed for the rest of Y 2020, as more is expected in June and 2-H of this year from new deals and existing customers as work from home is creating additional demand for automation.

In addition I recently learned that the company’s FedRAMP High and DOD IL4 certifications received in 2-H of Y 2019 are driving broader interest from more federal agencies. I feel this business will add 20 to 25% to the current stock price and am calling the stock at 470-500 long term.

Jefferies & Co’s price objective is 375 Vs the 370.23 consensus price target.

ServiceNow stock closed well above both marks Tuesday at the close 398.46+5.96 (+1.52%) as I write the report NOW is at 400.28 +1.82 (0.46%)
before hours 5a EDT. The stock trades at 118.3X TTM. EPS is 3.36 and does not pay a dividend.

NOW broke out on 29 April and all Key technical indicators turned Very Bullish as of 12 June. There is Strong Support at 385.12 and the resistance is NIL.

ServiceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide.

The company offers IT service management applications; and digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

It operates the Now platform that offers workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

The company also provides IT service management product suite for enterprise employees, customers, and partners; IT operations management product that connects a customer’s physical and cloud-based IT infrastructure with applications and platforms; IT Asset Management product to automate IT asset life cycles with workflows; IT business management product suite to manage IT priorities; and enterprise development operations product for developers’ toolchain. In addition, it offers customer service management product for customer service cases and requests; human resources service delivery product; security operations product for security operations management requirements of third-party; governance, risk, and compliance product to create policies and controls; and field service management application. Further, the company provides professional, training, and customer support services; and certification programs.

It serves government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, Oil & Gas, education, and consumer products.

The company sells its products through direct sales team and resale partners.

The company was formerly known as Service-now.com and changed its name to ServiceNow, Inc. in May 2012. The company was founded in Y 2004 and is HQ’d in Santa Clara, California

Have a healthy day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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