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ServiceNow (NOW)’s CEO is Doing Everything He Can, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed & Continued To Talk About AI & Enterprise Software.  ServiceNow Inc (NYSE:NOW) is one of the stocks Jim Cramer discussed.

ServiceNow Inc (NYSE:NOW) is an enterprise workflow management software provider. Its shares are down by 44% year-to-date and by 30% year-to-date. Well-known financial firm Wedbush discussed the software company in February. It added ServiceNow Inc (NYSE:NOW) to its IVES AI 30 list and outlined that the recent selloff in software stocks was overdone. According to Wedbush, since the AI revolution is still in its early stages, the market is overestimating the risks posed to software companies. Cramer also frequently discussed the impact of AI on the software industry. The CNBC TV host has asserted on several occasions that the industry’s seat-based business model is creating difficulties in a changed market environment. Bernstein kept an Outperform rating and a $219 share price target on ServiceNow Inc (NYSE:NOW) on January 30th. It outlined that the firm appeared to be a growth opportunity in large-cap stocks due to the recent share price weakness. As for Cramer, he’s excited about ServiceNow Inc (NYSE:NOW)’s upcoming share buyback:

“Everyday I hear that the whole business is going away. I don’t believe that ServiceNow, with Bill McDermott buying a big slug coming up on Feb 27th. . .

“I think the only active buyback I see is Bill McDermott is going to step up and buy back a ton of stock on Feb 27th. That’s because they were selling stock and then he’s got six months to come in and buy. He’s doing everything he can to get ServiceNow higher, everything, everything. . .”

While we acknowledge the risk and potential of NOW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NOW and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. Follow Insider Monkey on Google News.

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