ServiceNow Q1 seen as 'strong,' but attention turns to investor day
Sundry Photography/iStock Editorial via Getty Images
ServiceNow (NYSE:NOW) shares rose around 1% on Thursday after the cloud computing company reported first-quarter results that Baird deemed "strong," but the investment firm said attention now shifts to next month's investor day.
Analyst Rob Oliver, who has an outperform rating and per-share price target of $548 on ServiceNow (NOW), praised the company's "end-market resiliency and durable growth trends," but said the Nay 16 analyst day is likely to focus on long-term financial targets and the company's product roadmap and innovations in artificial intelligence.
"[Pipeline] remains robust with strong visibility to the second half of the year," Oliver wrote in an investor note, adding that new AI features can help with both employee and customer productivity. 
Oliver also noted ServiceNow's (NOW) plans to use OpenAI and Microsoft (MSFT) Azure capabilities.
In an interview with Seeking Alpha, ServiceNow (NOW) CEO Bill McDermott said the company has "become the platform for end-to-end digital transformation."
For the quarter ending March 31, ServiceNow (NOW) reported a profit, excluding one-time items, of $2.37 a share, on total revenue of $2.14B, including $2.02B from subscriptions.
Analysts were forecasting a profit of $2.04 a share on $2.09B in sales. 
More on ServiceNow

ServiceNow appoints Netflix Vice President of Engineering Deborah Black to board of directors
ServiceNow unveils new leadership in Europe, Middle East and Asia