“I Don’t Know What to do With ServiceNow (NOW),” Says Jim Cramer

We recently published 14 Stocks on Jim Cramer’s Radar.  ServiceNow, Inc. (NYSE:NOW) is one of the stocks on Jim Cramer’s radar.

ServiceNow, Inc. (NYSE:NOW) is a software-as-a-service (SaaS) company that provides enterprise workflow management software products. Its shares are down 40% over the year and 7.5% year-to-date. Cramer has discussed ServiceNow, Inc. (NYSE:NOW) regularly over the past couple of months. The CNBC TV host believes the stock’s woes are part of the broader struggles that the enterprise software sector is facing due to the disruption ushered in by AI. Bernstein recently discussed ServiceNow, Inc. (NYSE:NOW) as it reiterated an Outperform rating and a $219 share price target. The financial firm commented that the software company remained as one of the safest stocks in the sector despite the weak share price performance. Along with Bernstein, RBC Capital also discussed ServiceNow, Inc. (NYSE:NOW) in January and remarked that the software company could benefit from a recent partnership with OpenAI. In this episode, Cramer discussed ServiceNow, Inc. (NYSE:NOW) in the context of the difference in performance between hardware and software technology stocks:

"I Don’t Know What to do With ServiceNow (NOW)," Says Jim Cramer

“Now get the opp verse, okay, this is the losers, this is the software, enterprise software, Salesforce down 16, ServiceNow down 18, Adobe down 15, Workday down 14. . .Atlassian down 24, Hubspot down 25.

“David, I don’t know what to do with ServiceNow, I don’t know what to do with Adobe, with Workday.”

While we acknowledge the risk and potential of NOW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NOW and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.