ServiceNow Shares Fall As Middle East Delays, Soft Guidance Weigh On Outlook

Benzinga_recent_news04-23 23:43

Here are the key analyst insights: Check out other analyst stock ratings. Goldman Sachs: ServiceNow guided to cRPO (current remaining performance obligations) growth of 19.5% year-on-year in constant ...

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Several software companies have exposure to the Middle East and are likely to have witnessed similar disruptions during the first quarter, she stated.\nNeedham: ServiceNow reported cRPO of $12.64 billion for the first quarter, beating Street expectations of $12.56 billion, Cikos said. cRPO growth came in at 22.5% year-on-year, or 21% in constant currency, around 100 basis points (bps) higher than management’s guidance of 20%, he added.\nInvestors had been hoping for a clean beat and raise quarter, the analyst stated. He noted, however, that the company's message was \"muddied\" by:\nBTIG: While the first quarter has historically been a quiet one for ServiceNow, this year it was \"exceptionally noisy,\" Verkhovski said. The company not only reported delays in on-premise deals in the Middle East, but also indicated margin compression from the integration of Armis, he added.\nManagement's full-year guidance reflects a reduction of around $21 million in organic subscription revenue in constant currency terms, the analyst stated. \"Furthermore, Q2 organic CC cRPO growth guidance of ~18% excluding newly closed M&A missed consensus expectations of 18.9%,\" he wrote.\nJPMorgan: There are no \"material issues\" with ServiceNow's first-quarter performance or 2026 guidance, Murphy said. He added, however, that the second-quarter organic cRPO guidance of 17.3% growth in constant currency was disappointing.\nFor the past several quarters, ServiceNow has been guiding to constant-currency organic cRPO growth at around 19% and reporting at around 20%, the analyst stated. Now that the guidance is at around 17.3% for the second quarter, the company is unlikely to report growth close to 20%, \"thus likely falling below a psychological growth-territory threshold,\" he stated.\nNOW Price Action: ServiceNow shares were down 15.94% at $86.63 at the time of publication on Thursday. The stock is near its 52-week low of $81.23, according to Benzinga Pro data.\nPhoto: Freedomz on Shutterstock.com\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2629385622","isCrawlerRequest":true}