5 Best SaaS Stocks to Buy According to Reddit

2. ServiceNow Inc. (NYSE:NOW)

Number of Hedge Fund Holders: 108

ServiceNow Inc. (NYSE:NOW) is one of the 10 Best SaaS Stocks to Buy According to Reddit. On July 1, TheFly reported that Guggenheim upgraded its rating on ServiceNow to Buy from Neutral with a price target of $125.

The analyst highlighted that at its current share price, the stock offers an attractive opportunity for investors to buy a comfortably profitable firm that is likely to continue to grow organically in the double digits for the foreseeable future.

On the same day, Evercore ISI maintained its Outperform rating on ServiceNow while also keeping a price target of $150, according to a report by Investing.com. The analyst highlighted the company’s focus shift from a long-term artificial intelligence strategy to near-term execution.

Evercore ISI emphasized the need for ServiceNow to demonstrate consistent execution and clear messaging around organic versus inorganic growth to shift investor sentiment.

Earlier on June 29, ServiceNow, along with Accenture, launched an offering with two core components, particularly managed security services built on the ServiceNow AI Platform and an Accenture AI-powered solution that automates migration from legacy systems to ServiceNow.

The two companies highlighted that the offering equips organizations with essential risk management services powered by agentic AI to stay ahead of evolving threats, strengthen long-term cyber resilience, and combat the escalating scale, severity, and financial cost of cyberattacks.

ServiceNow Inc. (NYSE:NOW) provides an end-to-end workflow automation platform for digital businesses. The ServiceNow AI Platform integrates with any cloud, any model, and any data source to orchestrate how work flows across the enterprise.