ServiceNow (NOW) Just Got a Price Target Boost—Here’s What’s Behind It

ServiceNow, Inc. (NYSE:NOW) is one of the 10 AI Stocks Making Waves on Wall Street. On June 25, D.A. Davidson initiated the stock as “Buy”. The firm believes that the company is “best-of-breed.”

“We are initiating coverage of NOW with a BUY rating and a $1,150 price target. ServiceNow has been a market leading business automation provider for over two decades now.”

The firm further stated that the company is “in the early stages of disrupting the CRM market, which is undergoing a once in a generation shift due to AI.” Its business moat comes from “a combination of its platform architecture, deep enterprise integration, high switching costs, a strong brand, and vertical specialization.”

ServiceNow (NOW) Just Got a Price Target Boost—Here’s What’s Behind It

That said, analysts at DA Davidson expect ServiceNow to leverage its AI capabilities and best-of-breed platform to gain additional market share beyond the traditional IT service management (ITSM).

ServiceNow, Inc. (NYSE:NOW) is a technology company that offers a cloud-based software platform for automating business workflows within an enterprise.

While we acknowledge the potential of NOW as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.