Jim Cramer Talked About These 11 Stocks Recently

2. ServiceNow, Inc. (NYSE:NOW)

Cramer recently talked about ServiceNow, Inc.’s (NYSE:NOW) parabolic move and said:

“Let’s start with love: This market [is] once again enamored with those enterprise software stocks that are so expensive… Now these have all had parabolic moves, up double digits this month, even if they all pulled back a little bit today. If you’re selling software to big business, you can do no wrong in this market… Now see, with ServiceNow, a very good company that uses artificial intelligence to help improve the enterprise workflow among many other things. ServiceNow now sells for just under 75 times earnings. I had to take it outta the Charitable Trust bullpen today at our CNBC Investing Club monthly meeting… Darn thing just went too parabolic for me again… Now, enterprise software does tend to not have much Chinese exposure, which is a positive heading into Trump’s second term. How much is that worth? Not clear. At the CNBC Investing Club meeting, Jeff Marks and I talked about which companies could be helped or hurt by Trump 2.0. Enterprise software, it came out unscathed. I think that should put a premium on enterprise software stocks. But at this point, enough is enough. I say let ’em come down and then you can buy.”

ServiceNow (NYSE:NOW) is a leading provider of digital solutions designed to help businesses automate workflows and enhance operational efficiency across a variety of enterprise functions. According to the company, more than 85% of Fortune 500 companies rely on its platform, contributing to a customer base that exceeds 8,100 organizations worldwide.

ServiceNow (NYSE:NOW) has continued to experience strong growth. For the third quarter of fiscal 2024, the company reported total revenue of approximately $2.8 billion. Of this, more than $2.7 billion was generated from subscription-based services. This marks a 23% increase in revenue year-over-year.

Additionally, the company reported adjusted earnings per share of $3.72, which significantly surpassed analyst expectations. The company’s customer base has also expanded, with the number of clients generating net annual contract value (ACV) of $1 million or more rising by 14%, bringing the total to 2,020 customers with more than $1 million in ACV.