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If You Invested $1000 in ServiceNow a Decade Ago, This is How Much It'd Be Worth Now
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How much a stock's price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.
Another factor that can influence investors is FOMO, or the fear of missing out, especially with tech giants and popular consumer-facing stocks.
What if you'd invested in ServiceNow (NOW - Free Report) ten years ago? It may not have been easy to hold on to NOW for all that time, but if you did, how much would your investment be worth today?
ServiceNow's Business In-Depth
With that in mind, let's take a look at ServiceNow's main business drivers.
Santa Clara, CA-based ServiceNow Inc. provides cloud computing services that automate digital workflows to accelerate enterprise IT operations. The company’s Now Platform enables enterprises to enhance productivity by streamlining system processes.
By utilizing ServiceNow’s product portfolio, customers can design any workflow application to reduce the manual time taken by complex processes, and consequently optimize total cost of ownership or TCO.
The company’s solutions address the needs of many departments within an enterprise, including IT, human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.
Now platform is the foundation of the company’s cloud-based services.
The company has three product suites for IT management and operations. These are IT Service Management (ITSM), IT Operations Management (ITOM) and IT Business Management (ITBM) solutions.
Non-IT products include Customer Service, HR and Security Operations.
ServiceNow’s end-markets are quite varied, which includes financial services, consumer products, IT services, health care, government, education, and technology.
In 2023, total revenues came in at $8.971 billion. ServiceNow derives revenues from two sources – subscriptions (96.8% of 2023 revenues) and professional services and other (3.2% of 2023 revenues).
North America, Europe, the Middle East and Africa (EMEA), and Asia Pacific & Other contributed approximately 63.6%, 25.6% and 10.8% of revenues, respectively in 2023.
The company operates data centers in Australia, Brazil, Canada, Hong Kong, Netherlands, Singapore, Switzerland, UK and the U.S.
ServiceNow has approximately 8,100 enterprise customers.
Bottom Line
Anyone can invest, but building a successful investment portfolio requires research, patience, and a little bit of risk. So, if you had invested in ServiceNow ten years ago, you're likely feeling pretty good about your investment today.
According to our calculations, a $1000 investment made in May 2014 would be worth $16,143.70, or a gain of 1,514.37%, as of May 20, 2024, and this return excludes dividends but includes price increases.
The S&P 500 rose 182.41% and the price of gold increased 79.53% over the same time frame in comparison.
Analysts are forecasting more upside for NOW too.
ServiceNow has been benefiting from the rising adoption of its workflows by enterprises undergoing digital transformation. ServiceNow had 1933 total customers with more than $1 million in annual contract value at the end of the first quarter. ServiceNow had eight deals greater than $5 million in net new ACV, and four deals of more than $10 million. It closed 59 deals greater than $1 million net new ACV. Number of customers contributing more than $20 million or more grew 50% year over year. Generative AI deals continued to gain traction with record-breaking net new ACV for Pro Plus, making it the fastest-selling product in ServiceNow’s history. Nevertheless, ServiceNow is suffering from high inflation, stiff competition, and challenging macro-economic environment. Shares have underperformed the industry year to date.
Over the past four weeks, shares have rallied 7.16%, and there have been 11 higher earnings estimate revisions in the past two months for fiscal 2024 compared to none lower. The consensus estimate has moved up as well.
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If You Invested $1000 in ServiceNow a Decade Ago, This is How Much It'd Be Worth Now
How much a stock's price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.
Another factor that can influence investors is FOMO, or the fear of missing out, especially with tech giants and popular consumer-facing stocks.
What if you'd invested in ServiceNow (NOW - Free Report) ten years ago? It may not have been easy to hold on to NOW for all that time, but if you did, how much would your investment be worth today?
ServiceNow's Business In-Depth
With that in mind, let's take a look at ServiceNow's main business drivers.
Santa Clara, CA-based ServiceNow Inc. provides cloud computing services that automate digital workflows to accelerate enterprise IT operations. The company’s Now Platform enables enterprises to enhance productivity by streamlining system processes.
By utilizing ServiceNow’s product portfolio, customers can design any workflow application to reduce the manual time taken by complex processes, and consequently optimize total cost of ownership or TCO.
The company’s solutions address the needs of many departments within an enterprise, including IT, human resources (HR), facilities, field service, marketing, customer service, security, legal and finance.
Now platform is the foundation of the company’s cloud-based services.
The company has three product suites for IT management and operations. These are IT Service Management (ITSM), IT Operations Management (ITOM) and IT Business Management (ITBM) solutions.
Non-IT products include Customer Service, HR and Security Operations.
ServiceNow’s end-markets are quite varied, which includes financial services, consumer products, IT services, health care, government, education, and technology.
In 2023, total revenues came in at $8.971 billion. ServiceNow derives revenues from two sources – subscriptions (96.8% of 2023 revenues) and professional services and other (3.2% of 2023 revenues).
North America, Europe, the Middle East and Africa (EMEA), and Asia Pacific & Other contributed approximately 63.6%, 25.6% and 10.8% of revenues, respectively in 2023.
The company operates data centers in Australia, Brazil, Canada, Hong Kong, Netherlands, Singapore, Switzerland, UK and the U.S.
ServiceNow has approximately 8,100 enterprise customers.
Bottom Line
Anyone can invest, but building a successful investment portfolio requires research, patience, and a little bit of risk. So, if you had invested in ServiceNow ten years ago, you're likely feeling pretty good about your investment today.
According to our calculations, a $1000 investment made in May 2014 would be worth $16,143.70, or a gain of 1,514.37%, as of May 20, 2024, and this return excludes dividends but includes price increases.
The S&P 500 rose 182.41% and the price of gold increased 79.53% over the same time frame in comparison.
Analysts are forecasting more upside for NOW too.
ServiceNow has been benefiting from the rising adoption of its workflows by enterprises undergoing digital transformation. ServiceNow had 1933 total customers with more than $1 million in annual contract value at the end of the first quarter. ServiceNow had eight deals greater than $5 million in net new ACV, and four deals of more than $10 million. It closed 59 deals greater than $1 million net new ACV. Number of customers contributing more than $20 million or more grew 50% year over year. Generative AI deals continued to gain traction with record-breaking net new ACV for Pro Plus, making it the fastest-selling product in ServiceNow’s history. Nevertheless, ServiceNow is suffering from high inflation, stiff competition, and challenging macro-economic environment. Shares have underperformed the industry year to date.
Over the past four weeks, shares have rallied 7.16%, and there have been 11 higher earnings estimate revisions in the past two months for fiscal 2024 compared to none lower. The consensus estimate has moved up as well.