Tiger Global’s 15 Long-Term Stock Picks

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5.  ServiceNow, Inc. (NYSE:NOW)

Number of Hedge Fund Holders: 78    

ServiceNow, Inc. (NYSE:NOW) provides end-to-end intelligent workflow automation platform solutions for digital businesses in North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. It is one of the top long term stock picks of Tiger Global. At the end of the third quarter of 2024, the fund owned 579,655 shares in the company worth over $518 million, representing 2.21% of the portfolio. This holding has stayed the same for the past three quarters, with Tiger Global neither trimming this stake nor buying more shares.

The bullish sentiment towards ServiceNow, Inc. (NYSE:NOW) by Tiger Global is also shared by Wall Street. Wolfe Research recently raised the price target on the stock to $1,225 from $1,010 and kept an Outperform rating on the shares. In a research note, the advisory said it hasn’t been this excited and inspired for the software sector in a long time, and thinks that the combination of improving fundamentals, easing regulatory environment, secular AI tailwinds, and open for business capital markets makes this an amazing time to not only be alive, but also cover software stocks.

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