Why ServiceNow (NOW) is a Top Growth Stock for the Long-Term

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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

ServiceNow (NOW)

Santa Clara, CA-based ServiceNow Inc. provides cloud computing services that automate digital workflows to accelerate enterprise IT operations. The company’s Now Platform enables enterprises to enhance productivity by streamlining system processes.

NOW boasts a Growth Style Score of A and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Its bottom-line is projected to rise 22.3% year-over-year for 2024, while Wall Street anticipates its top line to improve by 21.1%.

11 analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.45 to $13.18 per share. NOW also boasts an average earnings surprise of 14.6%.

ServiceNow is also cash rich. The company has generated cash flow growth of 33.5%, and is expected to report cash flow expansion of 33% in 2024.

NOW should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.

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ServiceNow, Inc. (NOW) : Free Stock Analysis Report

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