Jim Cramer Says ServiceNow is One of the Few SaaS Stocks He Can Recommend

ServiceNow, Inc. (NYSE:NOW) is one of the stocks that Jim Cramer expressed thoughts on. An investing club member inquired about Cramer’s thoughts on the stock during the lightning round, and he replied:

“I think ServiceNow is one of the few software-as-a-service stocks that I can still recommend without hesitation. I think Bill’s doing terrific with that company, and he’s a real great representative of his institution.”

ServiceNow, Inc. (NYSE:NOW) provides cloud-based workflow and automation solutions through its AI-powered Now Platform. Its products support IT, security, customer service, HR, and enterprise operations management. A caller inquired about the stock during the August 11 episode, and Cramer responded:

“Okay, ServiceNow short term is being hurt by a call out of Melius, and that’s by Ben Reitzes, who was saying that these software as a service companies are going to be under pressure because their seat models can be hurt by AI. I think, longer term, ServiceNow has really good AI, and it would not be a stock that I would want to bet against. So, ServiceNow, longer term, I think is fine. Shorter term, I think it’s going to be under pressure.”

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