$NOW Down 66%, But the Business Isn't Broken
CEO $NVIDIA(NVDA)$ says this stock is undervalued.
It's down 66% and ON SALE:
$ServiceNow(NOW)$ reports tonight after the close and it might be the most mispriced company right now.
Down about 66% from its all time high near $240 while the business still compounds.
Why I think it runs back toward the highs:
This was multiple compression, not a broken business.
Still growing ~22% year over year at a forward multiple cut in half. Rerating waiting to happen.
AI is the catalyst nobody is pricing. Now Assist and AI Control Tower are turning into real ACV, new CRM bookings up 5x year over year.
Four straight beats, sentiment washed out, analysts still buy rated with targets well above spot.
A clean beat and raise tonight is the trigger. Catalyst tonight, risk defined.
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