U.S. stocks on the move: ServiceNow continues to rise over 3% in pre-market trading; Bank of America expects it to benefit from the AI wave
Golden Ten Data, May 19 — ServiceNow (NOW.US), which closed up 8.78% yesterday, continues to rise by 3.42% in the US pre-market today, trading at $106.96. According to reports, an exchange has resumed coverage of ServiceNow, assigning a “buy” rating and a target price of $130. Analysts believe that although artificial intelligence (AI) is disrupting the software industry landscape, ServiceNow is set to be a beneficiary of the AI wave rather than being replaced. Analysts pointed out that between now and 2028, ServiceNow's revenue growth rate is expected to remain between 18% and 22%, while free cash flow margin is projected to stay between 35% and 37%, driven by platform expansion, improved budget acquisition capabilities, and AI commercialization.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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