ServiceNow Tumbles After CEO Says Sales Cycle In Europe Lengthening.
$ServiceNow(NOW.US$ shares tumbled on Tuesday after Chief Executive Bill McDermott said the company's sales cycle in Europe could be getting longer. The comments, made on CNBC on Monday, sent NOW stock down more than 12%.
In a report, BMO Capital Markets analyst Keith Bachman said McDermott spoke on CNBC with business analyst Jim Cramer.
"Most of the interview was about the productivity benefits of workflow, consistent with recent management comments," Bachman said. "Bill also mentioned the headwinds of FX (currency), which we view as an apparent and obvious challenge for our coverage universe. However, Bill also mentioned some elongation of sales cycles in Europe."
NOW stock tumbled 12.7% to close at 427.94 on the stock market today.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
The content is carried from Twitter "Inverse Cramer ETF‘’.
1045Followers
31Following
3240Visitors
Follow