Recent inflation reports spooked investors, sparking a sell-off on Wednesday, but defensive stocks could provide some stability the next time markets get rocky. The producer and consumer price indexes released this week showed annualized inflation still above 2%, a worrisome sign for investors hoping that the Federal Reserve could soon begin lowering interest rates.
ServiceNow has performed around in line with the Nasdaq Composite this year, with a gain of less than 10%. Of the 41 analysts covering the stock, 38 rate it a buy or strong buy, and the consensus average price target implies more than 10% in upside ahead for the software stock, according to LSEG. Roper, on the other hand, has struggled this year, with the software stock's shares falling slightly in 2024.
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