Erste Group Upgrades ServiceNow (NOW) to Buy, 'We expect the company's profitable growth to continue'

Erste Group analyst Hans Engel upgraded ServiceNow (NYSE: NOW) from Hold to Buy.

The analyst comments "ServiceNow expects software revenues from subscriptions to increase by +19% - 19.5% in the second quarter and software revenues of around USD 12.7 bn for the year as a whole. The Group continues to offer customers innovative products to increase their productivity. We expect the company's profitable growth to continue."

For an analyst ratings summary and ratings history on ServiceNow click here. For more ratings news on ServiceNow click here.

Shares of ServiceNow closed at $942.86 yesterday.

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