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Are You a Growth Investor? This 1 Stock Could Be the Perfect Pick

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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ServiceNow (NOW)

Santa Clara, CA-based ServiceNow Inc. provides cloud computing services that automate digital workflows to accelerate enterprise IT operations. The company’s Now Platform enables enterprises to enhance productivity by streamlining system processes.

NOW is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of B. Earnings are expected to grow 23.8% year-over-year for the current fiscal year, with sales growth of 22.8%.

One analyst revised their earnings estimate higher in the last 60 days for fiscal 2022, while the Zacks Consensus Estimate has increased $0.01 to $7.33 per share. NOW also boasts an average earnings surprise of 4.1%.

ServiceNow is also cash rich. The company has generated cash flow growth of 47%, and is expected to report cash flow expansion of 35.7% in 2022.

Investors should take the time to consider NOW for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

ServiceNow, Inc. (NOW) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research