Jim Cramer on ServiceNow: "It's Wearing On Me"

ServiceNow, Inc. (NYSE:NOW) is one of the stocks Jim Cramer recently talked about. Highlighting that the company gave a “fantastic guidance”, a caller asked what Cramer thinks of the company. Here’s what he had to say in response:

“Well, I think the multiple’s a little high, and I’m starting to get away from that kind of enterprise software. It’s beginning to make, it’s beginning to wear on me. How about that? It’s wearing on me.”

ServiceNow (NYSE:NOW) provides a cloud-based platform for digital workflows, featuring AI-driven tools for automation, analytics, and application development. The company’s products are used in operations across IT, customer service, HR, legal, and other enterprise functions. A caller inquired about the company during a June episode, and Cramer replied:

“Oh, oh yeah…. I bought it for the club. I gotta tell you… over and over again, I thought about it because it’s such a good company. I know its earnings are, it looks like it’s expensive stock, but in the Rule of 40, it’s terrific. I gotta hand it to Bill McDermott. I am never going to say a bad word about ServiceNow. If you want to buy some, I am certainly going to green light that. By the way, can I just tell you, I looked at what they’re doing and I say to myself, wow, they’ve really figured out AI. Where’d I get that from? Jensen Huang.”

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Disclosure: None. This article is originally published at Insider Monkey.