According to a MarketWatch report, the Guggenheim analyst sees an "unfavorable" setup for ServiceNow through the second half of 2024 and does not see growth in ServiceNow’s subscription business.
ServiceNow's valuation is extremely stretched, trading at 15.2x EV/FY25 revenue and ~60x P/E, far above peers with similar growth rates. Growth is slowing, with only a slight boost to the FY25 outlook ...
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