ServiceNow (NOW) CEO Just Doesn’t Miss Quarters, Says Jim Cramer

We recently published Jim Cramer Discussed These 10 Stocks & Commented On Gold Price.  ServiceNow, Inc. (NYSE:NOW) is one of the stocks Jim Cramer discussed.

Software-as-a-service (SaaS) firm ServiceNow, Inc. (NYSE:NOW)’s shares have struggled amidst a broader downturn for the enterprise software sector in today’s AI era. They are down by 43% over the past year and by 12% year-to-date. While the shares have struggled, analysts have remained cautious. In its recent coverage, BMO Capital reiterated an Outperform rating but cut the share price target for ServiceNow, Inc. (NYSE:NOW) to $175 from $230. The financial firm outlined that the target cut reflected a broader multiple compression. However, Cantor Fitzgerald cut the share price target to $200 from $240 and kept an Overweight rating on the shares. While it cited multiple compression as the reason behind the cut, Cantor added that ServiceNow, Inc. (NYSE:NOW) limited downside risk. Like Cantor, Jefferies also reduced the share price target. It cut the target to $175 from $230 and kept a Buy rating. Cramer discussed the coverage and ServiceNow, Inc. (NYSE:NOW)’s CEO, Bill McDermott:

“Ahead of earnings, that’s incredible. Now remember, Bill McDermott, he’s not missed quarters. He’s not missed quarters. And look at this stock is actually down one hundred points. And this man doesn’t miss quarters. So let’s understand that that’s right in his face. It’s in McDermott’s face. Brutal.”

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Disclosure: None. This article is originally published at Insider Monkey.