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Top Research Reports for ServiceNow, Progressive & Analog Devices

Thursday, April 11, 2024

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 12 major stocks, including ServiceNow, Inc. (NOW), The Progressive Corporation (PGR) and Analog Devices, Inc. (ADI). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Shares of ServiceNow have outperformed the Zacks Computers - IT Services industry over the past year (+62.4% vs. +46%). The company has been benefiting from the rising adoption of its workflows by enterprises undergoing digital transformation. ServiceNow had 1897 total customers with more than $1 million in annual contract value at the end of the fourth quarter.

ServiceNow has been benefiting from the rising adoption of its workflows by enterprises undergoing digital transformation. Security and risk had a terrific quarter with 12 of the top 20 deals, out of which nine deals were more than $1 million. Customer, Employee and Creator workflows each had double-digit deals over $1 million.

It is benefiting from strong demand for its generative AI-powered solutions with the launch of Vancouver. Nevertheless, ServiceNow is suffering from high inflation, stiff competition, and challenging macro-economic environment.

(You can read the full research report on ServiceNow here >>>)

Progressive shares have outperformed the Zacks Insurance - Property and Casualty industry over the past year (+38.4% vs. +30.1%). The company continues to gain on higher premiums, given its compelling product portfolio, leadership position and strength in both Vehicle and Property businesses.

Focus on becoming a one-stop insurance destination, catering to customers opting for a combination of home and auto insurance, augurs well for the company's growth. Policies in force and retention ratio should remain healthy. Competitive pricing to retain current customers and address customer needs with new offerings should continue to drive policy life expectancy.

However, exposure to catastrophe losses induces underwriting volatility. Escalating expenses due to higher losses and settlement expenses remain an overhang on the margin. High debt level along with low times earned interest pose financial risk.

(You can read the full research report on Progressive here >>>)

Shares of Analog Devices have gained +0.4% over the year-to-date period against the Zacks Semiconductor - Analog and Mixed industry’s gain of +3.3%. The company is benefiting from strong momentum across the automotive end market. Strength across the electric vehicle space on the back of Analog Devices’ robust Battery Management System solutions remains a tailwind.

The solid momentum of the HEV platform across the cabin electronics ecosystem is a positive. Additionally, increasing power design wins is another positive. However, softness in the consumer end market is a headwind. A weak demand environment is a major concern.

The sluggish communications market, due to the broad-based inventory corrections, is a major negative. Broad-based weakness in the industrial end-market remains a headwind. The ongoing inventory correction is expected to be a headwind for the company in the near term.

(You can read the full research report on Analog Devices here >>>)

Other noteworthy reports we are featuring today include The Southern Company (SO), Altria Group, Inc. (MO) and Welltower Inc. (WELL).

Director of Research

Sheraz Mian

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

Today's Must Read

Growing Customer Base & Partnerships Aid ServiceNow (NOW)

Solid Policies in Force, High Retention Aid Progressive (PGR)


Battery Management System Solutions Aid Analog Devices (ADI)

Featured Reports

Southern Company (SO) Buoyed by Regulated Customer Growth
The Zacks analyst believes that increase in Southern's regulated business customer base will support its revenue growth but is concerned over timing and cost overrun related to Vogtle project.

Altria Group (MO) Gains From Solid Pricing Amid Low Volumes
Per the Zacks analyst, Altria Group has been benefiting from its solid pricing power. In fourth quarter, higher pricing offered respite to revenues, which was otherwise hurt by low cigarette volumes.

Healthy SHO Fundamental Aid Welltower (WELL), High Rates Ail
Per the Zacks Analyst, healthy senior housing fundamentals driven by limited new supply and rising senior citizens population are likely to aid Welltower. However, high interest rate remains a concern

Insulet (PODD) Gains From New Customer Starts Amid Cost Woes
The Zacks analyst is impressed with Insulet's global growth being fueled by record new customer starts, notably with Omnipod 5 AID system in the United States. Yet, rising expenses may hurt margins.

Robust Gaming Business Aid Hasbro (HAS), High Costs Hurt
Per the Zacks analyst, Hasbro is benefiting from benefiting from robust performance of its gaming category and a strong product lineup. However, the rise in freight and input costs remains concerning.

New Upgrades

Strength in Local & Travel Categories Aids Groupon (GRPN)
Per the Zacks analyst, Groupon is benefitting from strong momentum across its local and travel categories, particularly in the North American region.

Growing Top Line, Solid Capital Position Aid Palomar (PLMR)
Per the Zacks analyst, Palomar's growing revenues driven by higher premiums and net investment income have led to significant growth. Moreover, robust capital position supports capital deployment.

New Downgrades

Low Wholesale Unit Demand & High Capex to Ail Harley (HOG)
Per the Zacks analyst, lower demand from dealers for wholesale units would result in a decline in wholesale shipments. High capex requirement is also a concern.

Technology & Product Investment Costs Hurt Insperity (NSP)
Per the Zacks analyst, Insperity's investments in technology, product and service offerings are likely to keep its bottom line under pressure.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Southern Company (The) (SO) : Free Stock Analysis Report

Analog Devices, Inc. (ADI) : Free Stock Analysis Report

Altria Group, Inc. (MO) : Free Stock Analysis Report

The Progressive Corporation (PGR) : Free Stock Analysis Report

ServiceNow, Inc. (NOW) : Free Stock Analysis Report

Welltower Inc. (WELL) : Free Stock Analysis Report

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Zacks Investment Research