Global research and consulting company Gartner (it) ServiceNow, an accredited software company (now) As a leader in the 2021 Gartner CRM Customer Engagement Center Magic Quadrant. ServiceNow in Santa Clara provides enterprise cloud computing solutions.
ServiceNow was named a leader in its customer service management (CSM) solutions for the second year in a row. The solution is likely to be an annual contract value (ACV) business worth $1 billion.
Gartner’s 2021 market share report stated that ServiceNow’s share of the global customer service and support market increased by 75.6% last year. (See the ServiceNow stock chart on TipRanks)
Wolfe Research analyst Alex Zukin recently maintained a buy rating on the stock, but lowered his target price from US$675 to US$600 (upside potential is 10%).
Zukin believes that ServiceNow has a “very powerful pipeline” that will help achieve consistently outstanding performance. Analysts are “very optimistic” about the company’s future, current priorities and strategic positioning.
Overall, the stock is based on a strong buy consensus rating of 18 buys and 1 hold. ServiceNow analysts have an average target price of US$615.17, which implies a 12.7% upside potential compared to current levels. The company’s stock price has risen 36.2% in the past year.
According to TipRanks’ Smart Score rating system, ServiceNow’s score is 8 points (out of 10 points). This indicates that the stock may outperform the market average.
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