2023-01-21 02:59:49

ServiceNow Stock (NYSE:NOW): Bet on an Upcoming Earnings Beat

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By Tip Ranks

Will ServiceNow (NYSE:NOW) beat expectations in its upcoming earnings event? No guarantees can be made, of course, but I am bullish on ServiceNow stock as the company's past results have demonstrated all-weather fiscal strength. Besides, ServiceNow stock is trading at a favorable price point - though some investors might observe some seemingly inflated valuation metrics.

Headquartered in California, ServiceNow provides cloud-based, artificial intelligence (AI) poweredworkflow automation software. To put it simply, it's a well-respected company that helps businesses get work done more efficiently.

Yet, like so many tech stocks, NOW stock floundered in 2022. That's not necessarily a problem, though, as an imminent quarterly report expected on January 25 could set ServiceNow stock back on its upward trajectory.

ServiceNow Suffered Tech-Wreck Collateral Damage

It's certainly not ServiceNow's fault that elevated inflation caused businesses to scale back their software upgrades. Nevertheless, NOW stock investors sustained collateral damage as the share price declined from $566 to less than $430 last year.

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