ServiceNow Reports Stellar Results in Possibly Last Unprofitable Year; Maintain $221 FVE
ServiceNow’s IT workflow offerings are continuing to drive increased cash flow. The company met the high end of subscription revenue expectations for the last quarter of 2018 and saw profitability for the second quarter in a row--though slightly less than what we expected. While the year still yielded GAAP unprofitability, we think this will be the last as ServiceNow maintains its expense discipline and average contract value proves to be on the rise. We are maintaining our $221 fair value estim...ServiceNow provides enterprise cloud computing services that define, structure, manage and automate digital workflows for global enterprises. The company markets its services to enterprises in a variety of industries, including consumer products, education, financial services, government, health care, information technology (IT) services and technology. The company sells its subscription services through direct sales and, to a lesser extent, through indirect channel sales. The company also provides a portfolio of personnel and other services, both directly and through its network of partners. The company's products include IT service management, IT operations management, IT business management, and security operations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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