Key Takeaways From ServiceNow Analysts Day
<p>RBC Capital analysts provided their key takeaways from <a href='https://financialmodelingprep.com/financial-summary/NOW'>ServiceNow, Inc. (NYSE:NOW)</a> Analyst Day, noting they walked away incrementally bullish about the company’s large and growing opportunity to consolidate not just IT spend, but broader enterprise spend on a single platform, helping customers reduce costs and streamline operations.</p>
<p>Specifically, the analysts liked to see 2024 and 2026 revenue guidance as well as 2024 profitability guidance move higher vs. management's prior estimates.</p>
<p>Subscription revenue guidance moves higher to $11 billion or more in 2024 and $16 billion or more in 2026 vs. $10 billion+ and $15 billion+ respectively as per last year's analyst day.</p>
<p>The analysts said they continue to believe the company remains well-positioned to drive durable organic long-term growth and profitability driven by secular tailwinds around digital transformations. The analysts maintained their outperform rating and $670 price target on the company’s shares.</p>

NYSE:NOW