What Does Wall Street Think About ServiceNow (NOW)?

ServiceNow, Inc. (NYSE:NOW) is one of the best long term growth stocks to buy according to hedge funds. On January 9, Stifel cut the price target on ServiceNow, Inc. (NYSE:NOW) to $200 from $230 while maintaining a Buy rating on the shares. In a note titled  “4Q Should Be Fine; But Not Expecting Great”, the firm stated that the tone of its system integrator checks down-ticked modestly quarter-over-quarter. However, it believes that management would likely take a conservative stance to start the year in terms of Q1 organic cRPO guidance, in keeping with historical trends.

ServiceNow, Inc. (NOW) Is Competing With The Rise Of AI, Says Jim Cramer

In addition to Stifel, Wells Fargo also cut the price target on ServiceNow, Inc. (NYSE:NOW) to $225 from $255 on January 8 and maintained an Overweight rating on the shares. The firm told investors that it believes AI to still be “the name of the 2026 game”, and sees three primary ways to play: incumbents, innovation, and infrastructure. It contended that while adoption may be uneven, secular trends are likely to ultimately drive 2026 performance.

The rating updates came after ServiceNow, Inc. (NYSE:NOW) announced on January 7 that it will release financial results for fiscal Q4 and the full-year ended December 31 after the close of market on January 28.

ServiceNow, Inc. (NYSE:NOW) offers an AI platform for business transformation, boosting productivity and maximizing business outcomes. Its intelligent platform, Now Platform, provides end-to-end workflow automation for digital businesses. Now Platform functions as a cloud-based solution embedded with AI and ML.

While we acknowledge the potential of NOW to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NOW and that has 100x 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.