ServiceNow rises after Bank of America analysts reinstate as a “buy” with a $130 price target
Summary
Bank of America reinstated ServiceNow as a "buy" with a $130 price target, sending the stock up about 4% in early trading. The analysts called ServiceNow an "AI beneficiary," arguing AI adoption will increase demand for governance, orchestration, approvals and auditability tied to enterprise workflows. BofA noted ServiceNow’s initiatives—AI Control Tower, Action Fabric, hybrid pricing, and the Armis/Veza acquisitions—position the company to capture incremental value as AI scales. The report says replacing ServiceNow with new AI tools would be costly and complex given its deeply embedded, mission-critical workflow role, and comes after the stock fell more than 40% year-to-date.
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Manufacturing Industry
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Facilities Management
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IT Services
Cloud Computing
Enterprise Software
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ServiceNow, Inc.
$1B+