Qualcomm stock is up 13.2% this year, and 42.2% during the past 12 months. Market capitalization has...
01/05/2015 2:15 pm EST
Our Top Pick for 2015 makes software that makes it easier for IT (and, increasingly, every other department) to service its customers—i.e. employees that need help—notes growth expert Michael Cintolo, editor of Cabot Market Letter.
ServiceNow (NOW) is a smallish ($670 million in revenue in 2014) software provider that's likely to grow many times its current size.
Instead of sending emails or leaving voice messages and having to follow-up, the software allows employees to login and report the issue, then come back and check on the status at their convenience.
Across large enterprises, ServiceNow's platform is saving incredible time and money, as well as creating a central location for managers to review what's really needed and going wrong.
Profits have been flat as management invests in the business (the sales force is up 50% over the past year), but revenues are growing north of 60% thanks to insane renewal rates (98%).
The company is seeing a steady addition of new and often huge customers; 473 of the Global 2000 are signed on.
In addition, current customers keep expanding ServiceNow use and paying more. Indeed, after three years, they average spending three times as much as their initial purchase. It's a huge idea and the stock looks ready to blast off.
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