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Benzinga
Benzinga
Business
Anusuya Lahiri

Where Does ServiceNow Stand With Analysts Post Investor Day?

After attending its investor day meet, analysts offered their views on ServiceNow, Inc (NYSE:NOW). Mizuho analyst Gregg Moskowitz said management expressed bullishness on its growth prospects and targeted $11 billion+ of subscription revenue by 2024, and $16 billion+ by 2026, above its initial targets of $10 billion+ and $15 billion+, respectively. 

NOW also raised 2024E OMs by 50bps, to 27%. Moskowitz reiterated his expectation of continued high growth over the next few years triggered by robust demand for workflow automation, strong cross-sell opportunities, and greater penetration of newer markets. 

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