ServiceNow Stock Rises on Analyst's Price Target Hike
On Monday, ServiceNow (NYSE: NOW) stock rose by 1.6% as Cantor Fitzgerald analyst Thomas Blakey raised his price target for the company from $141 to $174 per share while maintaining an overweight recommendation. Blakey cited increased investor interest in security-driven agentic AI platforms and client upgrades that are boosting ServiceNow's revenue potential. He believes these factors position the company well to meet its goal of having 30% of total annual contract value come from AI by 2030. Despite a previous sell-off affecting software stocks, ServiceNow has been recovering due in part to its embrace of AI technology and is now seen as undervalued given its growth potential.
Tickers: $NOW