Jim Cramer Says “I Am Not Going to Call Bottom in ServiceNow”

“Okay, truthful ServiceNow, wow. Is it astatine a one-year low? It is down a 100 bucks. Holy cow. Alright, truthful wherefore is ServiceNow going down? Enterprise software, whether it beryllium Adobe, which has truly been hammered, whether it beryllium Salesforce, which is not doing well, the illustration that is, oregon ServiceNow, it’s beauteous awful. I americium not going to telephone bottommost successful ServiceNow. It is conscionable excessively darn hard for me.”

Stock marketplace data. Photo by Jakub Zerdzicki connected Pexels

ServiceNow, Inc. (NYSE:NOW) provides a unreality level that supports integer workflows done AI, automation, low-code tools, analytics, and a acceptable of IT, security, customer-service, and employee-experience products. During the January 5 episode, a caller highlighted the caller banal divided and asked for Cramer’s opinion, to which helium replied:

“Well, the occupation is that it is simply a bundle institution and the bundle companies are being eaten by the hardware, immoderate would say. It inactive has a precocious price-to-earnings multiple. I was amazed the banal gave up truthful galore points connected Friday. I thought it would bounce backmost today, and it truly didn’t. I deliberation that astatine 42 times earnings, it’s a PE multiple, it’s inactive a small excessively precocious for me. It is 1 of the amended companies successful an manufacture that is being, well, it’s having a pugnacious clip with AI, adjacent though it is an AI person itself. Odd, huh?”

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