ServiceNow Stock Soars 4.19% on Strong Earnings

On April 23, 2025, ServiceNow's stock surged by 4.19% in pre-market trading, reflecting strong investor confidence in the company's recent performance and future prospects.

Barclays maintained its 'Overweight' rating for ServiceNow, setting a new target price of $967.00. This positive outlook is supported by the company's robust financial performance, as evidenced by its 2024 annual report. ServiceNow reported revenue of $10.984 billion for the year ending December 31, 2024, marking a 22.44% year-over-year increase. The company also reported a net income of $1.425 billion, with earnings per share of $6.92.

Founded in 2004, ServiceNow has established itself as a leading cloud-based service provider, specializing in the automation of enterprise IT operations. The company's suite of applications, built on a proprietary platform, automates workflows and integrates related business processes. ServiceNow's focus on automating and standardizing business processes, as well as integrating IT across global enterprises, has positioned it as a key player in the IT transformation landscape.