In spite of the corona crisis, the operation of the cloud computing high-end ServiceNow still runs like a clockwork. This is also directly reflected in the stock price of the software provider. Since the beginning of the year, prices have risen by nearly 70%. Due to the low corona, the paper even doubled. Now, the company’s operating environment once again brings good news.
ServiceNow announced yesterday that it intends to establish a partnership with network equipment supplier Cisco.
Specifically, the goal is to integrate Cisco DNA Spaces into ServiceNow’s WiFi-enabled tracking application. The application is used to monitor the physical distance in the employee’s work area and is part of the new application suite, designed to make it easier for employees to return to the workplace.
Cisco DNA Spaces digitizes the physical space to help customers use the existing Wi-Fi infrastructure to learn more about the people (visitors, employees) and things (resources, sensors) in the building.
Since ServiceNow and Cisco do not directly compete with each other, this partnership may benefit both parties and ensure that further technical exchanges will enrich the product portfolio of the two companies.
After the overall market weakness, ServiceNow lost more than 8% in yesterday’s transaction. Shareholders recommend using the reset tool for new entries. Investment lets their profits run.
Since SHAREHOLDER’s recommendation, ServiceNow’s share has increased by approximately 10%.
Explanation of possible conflicts of interest:
The author Emil Jusifov directly took a position on the following financial instruments mentioned in the publication or related derivatives that could benefit from any resulting price increases: ServiceNow.
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