ServiceNow, Inc. (NYSE:NOW) is one of the 10 Most Promising Technology Stocks to Invest In. On August 25, Stifel Nicolaus reiterated the Buy rating on ServiceNow, Inc. (NYSE:NOW) stock, keeping the price target at $1,200.
Brad Reback from Stifel reaffirms the rating on NOW, with the company posting 21.5% constant currency current remaining performance obligation (cRPO) growth during Q2 FY2025, reaching $10.92 billion. The company closed 89 deals greater than $1 million in net new ACV, with 11 deals surpassing $5 million. ServiceNow maintains focus on operational discipline and is gaining strong momentum in AI, with an increase in key AI Pro Plus deal count of more than 50% in Q2 compared to Q1.
Reback remains optimistic about the company’s progress. ServiceNow expects its subscription revenue to be between $3.26 billion and $3.265 billion in Q3 FY2025, indicating 20% to 20.5% year-over-year growth. For the full year 2025, the company has raised its subscription revenue by $125 million to $12.775 billion to $12.795 billion, also reflecting a 20% growth from a year ago.
ServiceNow, Inc. (NYSE:NOW) offers an AI platform for business transformation. The company’s AI platform connects people, processes, devices, and data to enhance productivity and maximize business outcomes.
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. This article is originally published at Insider Monkey.
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