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Software program firm ServiceNow (NYSE:NOW) possible had a “sturdy” end to the tip of its second-quarter, funding agency Stifel mentioned on Monday, citing channel checks.
Brad Reback, who has a purchase score on ServiceNow (NOW), famous that checks confirmed enterprise exercise throughout all geographies have been “sturdy,” particularly in Europe, as beforehand stalled initiatives resumed. Reback additionally mentioned that U.S. public sector demand was “very wholesome” and federal exercise remains to be “strong.”
“Wanting ahead, buyer engagement stays excessive put up a profitable Information 2023 occasion, and pipelines seem strong heading into [the second half of 2023],” Reback wrote in an investor observe.
Reback additionally famous that ServiceNow (NOW) is increasing its platform and rising its pipeline, whereas persevering with to keep up its 20% or extra income progress, together with continued margin growth.
ServiceNow (NOW) shares fell fractionally in pre-market buying and selling on Monday.
ServiceNow (NOW) is slated to report second-quarter outcomes on July 26. A consensus of analysts estimate that the corporate will earn $2.04 per share on $2.31B in income.
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