ServiceNow Inc. drew positive attention from Wall Street analysts on Monday. Deutsche Bank raised its price target on ServiceNow stock to $155 from $135. The bank maintained a "Buy" rating. Cantor Fitzgerald increased its price target to $174 from $141. It kept an "Overweight" rating.
Cantor Fitzgerald analysts cited a positive shift in investor sentiment. They noted a growing focus on demand for ServiceNow's AI-driven platforms. Analysts observed strong customer upgrades to access the company's Now Assist AI packs. These upgrades support management's optimistic targets for AI-related annual contract value. GuruFocus's valuation model indicates the stock appears significantly undervalued. This adds to the bullish case presented by the analyst upgrades.