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MILAN - ServiceNow (NYSE:NOW), a prominent player in the software industry with a market capitalization of $212 billion and impressive 79% gross profit margins, has formed a strategic partnership with Ferrari to enhance the automaker’s Hypercar team performance and real-time race operations, according to a press release statement. According to InvestingPro analysis, ServiceNow maintains a strong financial health rating, with 14 key investment insights available to subscribers.
As the Official Partner of the Ferrari Hypercar team, ServiceNow’s AI platform supports Ferrari’s global operations, connecting over 25,000 employees, dealers, suppliers, and contractors through a central digital hub called One Digital Portal.
The partnership follows Ferrari’s victory at the World Endurance Championship. The Ferrari Hypercar team utilizes a custom application built on ServiceNow’s platform to track and report car issues, communicate updates on new components under testing, gather implementation feedback, and ensure traceability throughout the validation process. ServiceNow’s robust platform capabilities are reflected in its strong financial performance, with revenue growing at 21% year-over-year to $11.47 billion.
The collaboration extends beyond racing to support Ferrari’s enterprise-wide operations. The One Digital Portal serves as a central hub for managing service requests across Ferrari’s Racing, Sports Car, and Lifestyle divisions. The system also supports Ferrari’s global dealer network of 180 locations in more than 60 countries with streamlined case management and operational transparency.
"Whether helping race engineers optimize vehicle performance or enabling business leaders to manage complexity, ServiceNow is built for high-stakes environments where speed, clarity, and action matter most," said Antonio Torretta, Head of IT Strategy and Governance at Ferrari, in the press release. Get detailed insights into ServiceNow’s business model and growth potential with InvestingPro’s comprehensive research report, part of its coverage of 1,400+ top US stocks.
The two companies began working together in 2019 to increase visibility into team operations, with the partnership gradually expanding to support broader business modernization efforts.
In other recent news, ServiceNow has been at the center of several key developments. Moody’s upgraded ServiceNow’s long-term issuer rating to A2, reflecting a strong growth outlook with projected revenues of $13 billion by 2025. The company maintains a robust financial position with $10.9 billion in cash and investments, and its free cash flow is expected to exceed $4 billion in 2025. Meanwhile, TD Cowen raised ServiceNow’s stock price target to $1,150, citing growth in annual recurring revenue and the successful implementation of new bundling strategies. RBC Capital Markets also reiterated its Outperform rating with a $1,100 price target, emphasizing ServiceNow’s potential in the AI sector. Bernstein maintained an Outperform rating with a $1,003 price target, highlighting the impact of Pro Plus (GenAI) products on future revenue growth. Additionally, ServiceNow is undergoing an executive reshuffle with the departure of key sales leaders, as the company aims to align its sales strategy with AI-related products. These developments indicate a period of strategic growth and transformation for ServiceNow.
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