ServiceNow (NOW) is a Great Momentum Stock: Should You Buy?

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps investors identify effective metrics for assessing stock momentum [2] Group 2: ServiceNow (NOW) Analysis - ServiceNow currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [3][4] - Over the past week, ServiceNow shares increased by 7.14%, while the Zacks Computers - IT Services industry remained flat [7] - In the last month, ServiceNow's shares rose by 10.45%, outperforming the industry's 4.28% [7] - Over the past quarter, ServiceNow shares have risen by 24.93%, and by 68.79% over the last year, compared to the S&P 500's increases of 8.43% and 31.8%, respectively [8] Group 3: Trading Volume and Earnings Outlook - The average 20-day trading volume for ServiceNow is 1,207,265 shares, indicating a bullish sign with rising stock prices [9] - In terms of earnings estimates, 11 estimates have been revised upwards in the last two months, increasing the consensus estimate from $13.81 to$13.87 [11] - For the next fiscal year, 7 estimates have moved upwards while 5 have been revised downwards [11] - Overall, ServiceNow is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [12]