ServiceNow Continues Rolling in Q2
Jul 25, 2024
ServiceNow is one of my favorite firms in our portfolio, that rare combo of predictability, safety, and robust growth. Sales were up 22% in the quarter, and long-term backlog growth was really impressive, up 31%. This company never seems to slow down. It is aggressively applying AI models to its myriad of service desk use cases - a perfect fit for the technology, in my opinion. I still see a ton of potential going forward for ServiceNow, and any opportunity to buy near our (slightly raised) fair value of $702 should be taken advantage of by investors.
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