12 Most Profitable Growth Stocks to Buy According to Billionaires

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9. ServiceNow Inc. (NYSE:NOW)

TTM Net Income as of August 4: $1.66 billion

Number of Hedge Fund Holders: 106

Dollar Value of Billionaire Holdings: $3.87 billion

Number of Billionaire Investors: 19

ServiceNow Inc. (NYSE:NOW) is one of the most profitable growth stocks to buy according to billionaires. On July 24, RBC Capital raised its price target on ServiceNow shares to $1,200 from $1,100, while maintaining an Outperform rating. The firm believes the company’s outlook is conservative for Q2 2025, with a solid upside potential.

In Q1 2025, ServiceNow reported its biggest-ever first-quarter for net new Annual Contract Value/ACV. The number of Pro Plus deals more than quadrupled year-over-year, and 72 deals were greater than $1 million in net new ACV, which was a rise from 63 a year ago. Additionally, the number of customers generating over $5 million in ACV reached 508.

The company generated a subscription revenue of $3.005 billion, which was a 20% year-over-year increase. The company still raised its full-year 2025 subscription revenue guidance to a range of $12.64 billion to $12.68 billion, representing 18.5-19% year-over-year growth. For Q2 alone, subscription revenue guidance was set between $3.030 and $3.035 billion, which is a 19-19.5% growth.

ServiceNow Inc. (NYSE:NOW) provides a cloud-based solution for digital workflows in North America, Europe, the Middle East and Africa, Asia Pacific, and internationally.

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