Why ServiceNow Soared 12% Higher Last Month
This was the month when many investors discovered software stocks were not so toxic.
Overview
Enterprise software company ServiceNow (NYSE: NOW) was a winner in July. This was mostly because it delivered a beat-and-raise second quarter during the month, although a general rebound in beaten-down software stocks also helped. All told, across all of July ServiceNow's share price rose by 12%.
ServiceNow's earnings report was impressive from the get-go. It began with the company's note that it beat its own guidance on several key metrics, including revenue growth and profitability.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.