ServiceNow Shares Are Up Today: What's Going On? - ServiceNow (NYSE:NOW)

ServiceNow, Inc. (NYSE:NOW) shares are on watch ahead of the company's fourth-quarter earnings report scheduled for Jan.29 2025, after market close.

What To Know: The company's guidance for the fourth quarter of the fiscal-year 2024 reflects 21.5% year-over-year growth in current remaining performance obligations (cRPO) on a constant currency basis, aligning with projected subscription revenue growth.

Although foreign exchange headwinds are expected to weigh on reported results, particularly due to the strength of the U.S. Dollar against the Euro and Pound, these challenges appear to have been accounted for in client models. Analyst Mike Cikos from Needham anticipates potential upside of 150-200 basis points in cRPO and subscription revenue growth, citing consistent execution, the ongoing Pro Plus upgrade cycle and improved spending trends entering 2025. Early renewals may also contribute additional unrecognized gains.

Additionally, the acquisition of Cuein is expected to bolster the platform's AI-native capabilities, enabling dynamic insights from customer interactions.

Price Action: ServiceNow shares were up 86% at $1,134.62 at the time of writing, according to Benzinga pro.

Read Next:

AT&T’s Subscriber Momentum And De-Risked Fundamentals Drive Optimism: Goldman Sachs Analyst

Image Via Shutterstock.

NOWServiceNow Inc

$114.590.35%

Overview

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.