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Recommendations
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Citi names top software picks with sector de-rating 'mostly done' »
06:40 06/24/22 06/2406:40 06/24/2206:40
MSFT
Microsoft
ServiceNow
MongoDB
Elastic
Atlassian
Fortinet
Crowdstrike
Citi analysts Tyler Radke… Citi analysts Tyler Radke and Fatima Boolani say that with valuation multiples near multi-year lows, they believe the software sector "de-rating is mostly done." While valuations have largely stabilized, there is still potential for more volatility ahead, driven by risks to estimates in the second half of 2022, the analysts tell investors in a research note. Their updated top picks across applications and data management "have more of a defensive posture" with ServiceNow (NOW) and Microsoft (MSFT) at the top. The companies are most exposed to "still resilient" IT budgets, Radke and Boolani contend. They are taking a "more selective approach to high growth" where they have confidence in the durability of growth for MongoDB (MDB) and Elastic (ESTC). In infrastructure and security, they like Atlassian (TEAM), Fortinet (FTNT) and Crowdstrike (CRWD). ShowHide Related Items >><<
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Over a week ago | ||||
Options
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ServiceNow put volume heavy and directionally bearish »
15:15 06/09/22 06/0915:15 06/09/2215:15
NOW
ServiceNow
Bearish flow noted in… Bearish flow noted in ServiceNow with 4,625 puts trading, or 1.3x expected. Most active are 7/8 weekly 250 puts and Jun-22 780 calls, with total volume in those strikes near 1,800 contracts. The Put/Call Ratio is 1.78, while ATM IV is up over 1 point on the day. Earnings are expected on July 27th. ShowHide Related Items >><<
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Conference/Events
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ServiceNow participates in a conference call hosted by Mizuho »
05:55 06/09/22 06/0905:55 06/09/2205:55
NOW
ServiceNow
Mizuho holds a conference… Mizuho holds a conference call with management on June 9. ShowHide Related Items >><<
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Conference/Events
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ServiceNow participates in a conference call hosted by Mizuho »
07:32 06/07/22 06/0707:32 06/07/2207:32
NOW
ServiceNow
Mizuho holds a conference… Mizuho holds a conference call with management on June 9. ShowHide Related Items >><<
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Hot Stocks
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ServiceNow to acquire Hitch Works, terms undisclosed »
09:04 06/03/22 06/0309:04 06/03/2209:04
NOW
ServiceNow
ServiceNow announced it… ServiceNow announced it has signed an agreement to acquire Hitch Works, a skills mapping and intelligence company. Hitch will add a new layer of AI-powered skills insights to the Now Platform to help customers address talent gaps by tying employee learning and development to workforce planning. Companies will be able to more effectively match people to projects - all from a single platform. Hitch was founded by HR-industry veteran Kelley Steven-Waiss, who served as CHRO and CIO of Here Technologies prior to founding Hitch. The company is led by CEO Heather Jerrehian. Both leaders are expected to remain with ServiceNow post-acquisition. ServiceNow expects to close the acquisition in Q2. ShowHide Related Items >><<
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Options
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Early notable gainers among liquid option names on June 1st »
09:55 06/01/22 06/0109:55 06/01/2209:55
CRM
Salesforce
Adobe
ServiceNow
Amazon.com
APA Corp.
Notable gainers among… Notable gainers among liquid option names this morning include Salesforce (CRM) $183.72 +23.47, Adobe (ADBE) $436.25 +19.77, ServiceNow (NOW) $487.05 +19.58, Amazon (AMZN) $2496.47 +92.28, and Apache (APA) $48.55 +1.54. ShowHide Related Items >><<
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Over a month ago | ||||
Hot Stocks
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ServiceNow introduces new Procurement Service Management solution »
10:20 05/25/22 05/2510:20 05/25/2210:20
NOW
ServiceNow
ServiceNow earlier today… ServiceNow earlier today introduced its new Procurement Service Management, or PSM, solution it said will "help transform procurement across the enterprise and speed up delivery times for simpler sourcing tasks through digitization and self-service." "Procurement Service Management from ServiceNow brings unique capabilities to the market by simultaneously streamlining processes for procurement teams and giving regular employees more ways to problem-solve, quickly and easily. Our solution refocuses procurement teams on strategic activities by redirecting simple tasks to self-service options - across the complete procurement lifecycle," said Kirsten Loegering, vice president of product management, ERP Solutions, at ServiceNow. Procurement Service Management is currently available, the company noted. ShowHide Related Items >><<
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Recommendations
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ServiceNow price target lowered to $550 from $650 at Stifel »
07:31 05/25/22 05/2507:31 05/25/2207:31
NOW
ServiceNow
Stifel analyst Brad… Stifel analyst Brad Reback lowered the firm's price target on ServiceNow to $550 from $650 and keeps a Buy rating on the shares after having attended ServiceNow's analyst day ahead of its annual user conference. At the event, management updated their long term model, increasing their FY24 and FY26 subscription revenue targets by $1B each, to $11B and $16B, respectively, and noted that they expect to reach these growth levels organically, said Reback. Though he views these targets as "very achievable" and expects that ServiceNow's expanding platform, growing pipeline, and large deal momentum should enable the company to maintain 20%-plus revenue growth and significant margin expansion, he cites "ongoing market turmoil and multiple compression" for a lower target for the shares. ShowHide Related Items >><<
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Recommendations
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ServiceNow price target lowered to $550 from $650 at Mizuho »
06:37 05/25/22 05/2506:37 05/25/2206:37
NOW
ServiceNow
Mizuho analyst Gregg… Mizuho analyst Gregg Moskowitz lowered the firm's price target on ServiceNow to $550 from $650 and keeps a Buy rating on the shares post the analyst day. The company expressed bullishness on its growth prospects and is now targeting $11B of subscription revenue by 2024, Moskowitz tells investors in a research note. The analyst sees continued high growth over the course of the next few years for ServiceNow but cut the price target given the material recent contraction in comp multiples. ShowHide Related Items >><<
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Recommendations
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ServiceNow price target lowered to $600 from $650 at Piper Sandler »
06:13 05/25/22 05/2506:13 05/25/2206:13
NOW
ServiceNow
Piper Sandler analyst Rob… Piper Sandler analyst Rob Owens lowered the firm's price target on ServiceNow to $600 from $650 and keeps an Overweight rating on the shares. The analyst says the company's analyst day refreshed his perspective on its underlying digital transformation tailwinds. He cut the price target to reflect multiple compression. ShowHide Related Items >><<
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