NOW
Wall Street’s a little less grumpy
ServiceNow just got a pair of price-target boosts, which is analyst-speak for: “hey, maybe this story has more runway than we thought.” Stifel bumped its target from $120 to $160 and kept a Buy rating, while UBS raised its target from $110 to $150 and stayed Neutral.
Why the bulls are nibbling
The Stifel note points to a few things investors like to hear:
- enterprise spending is improving, at least a bit
- deal activity is elevated
- renewals look solid
- customers are adopting more Advanced SKUs
That said, it’s not all confetti cannons. The analyst also flagged lingering questions around ServiceNow’s AI-enabled products and pricing. Translation: the company’s AI pitch is exciting, but some customers are still squinting at the bill.
The AI angle keeps getting louder
ServiceNow also rolled out new AI Workflow Factory and Autonomous Engineer tools, pitching them as a way for companies to build and run AI workflows faster, with governance baked in through AI Control Tower. That’s a very enterprise-software way of saying, “we want to help you automate stuff without letting the robots go full chaos mode.”
India got a shoutout too, which matters because ServiceNow clearly sees it as a big market for governed AI transformation. Meanwhile, the stock was up 0.81% to $137.19 when the story hit, so the market was at least politely impressed.
Big picture: this is less about one flashy product launch and more about the market slowly warming up to ServiceNow’s AI story — while still demanding proof that all that hype turns into durable revenue.