ServiceNow, Inc. (NYSE:NOW) is one of the stocks Jim Cramer shared his thoughts on. Cramer praised the company and CEO, but added the stock has “become a nightmare,” as he commented:
First, let me just say that ServiceNow is a tremendous company with a highly respected CEO… I know dozens of their clients. I’ve never heard anything but praise. However, this stock has become a nightmare, down more than 50% over the last 12 months, including a nearly 10% beating today in response to last night’s quarter. Even though, again, the actual numbers were excellent. So what the heck’s going on here? The earnings are fine. The problem is the M, what people will pay for those earnings. ServiceNow’s multiple is shrinking.
ServiceNow, Inc. (NYSE:NOW) provides a cloud platform that supports digital workflows through AI, automation, low-code tools, analytics, and a suite of IT, security, customer service, and employee experience products.
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Disclosure: None. This article is originally published at Insider Monkey.
