Jim Cramer’s Bold Predictions About These 10 SaaS Stocks

2. ServiceNow, Inc. (NYSE:NOW)

Number of Hedge Fund Holders In Q3 2024: 78

Date of Cramer’s Comments: 8-16-24

Performance Since Then: 29%

ServiceNow, Inc. (NYSE:NOW) is a SaaS firm that provides human resource management products and services. Its shares have been performing well in the second half of the year as the shares soared by 5.39% in October after its low-end $2.875 billion Q4 subscription revenue guidance beat analyst estimates of $2.85 billion. ServiceNow, Inc. (NYSE:NOW)’s stock rose by an additional 6.22% in December after peer firm Salesforce beat its fiscal year 2024 earnings guidance and announced significant momentum for its AI platform.  Here’s what Cramer had said in August:

“First, we had two tech companies—just two—that delivered fantastic sales, earnings, and forecasts. That’s the magic trit kit that makes people feel comfortable buying even into tsunami of selling and those. These two companies includes ServiceNow. Both companies exceeded expectations and provided impressive forecasts. Interestingly, both are leveraging AI powered by the latest and greatest Nvidia chips.”