Could ServiceNow Become a Trillion-Dollar Company by 2040?
ServiceNow (NYSE: NOW) has grown at a remarkable rate since its initial public offering a decade ago. The digital workflow service provider's annual revenue surged from $244 million in 2012 to $5.9 billion in 2021, representing a compound annual growth rate (CAGR) of 42.5%
ServiceNow went public on July 28, 2012, at $18 per share, which valued the company at about $2.2 billion. Today, the stock trades at about $560, giving ServiceNow a market capitalization of approximately $113 billion. A $1,000 investment in its IPO would be worth nearly $31,000 today.
That makes the stock a massive multi-bagger, but could ServiceNow's stock continue to rally over the long term and boost its market cap past the $1 trillion mark by 2040?
Source Fool.com
