Cantor Reiterates 'Overweight' on ServiceNow (NOW) Amid Explosive AI Growth

ServiceNow, Inc. (NYSE:NOW) is one of the AI Stocks in the Spotlight Today. On July 28, Cantor Fitzgerald analyst Thomas Blakey reiterated an “Overweight” rating on the stock with a $1,200.00 price target. The rating affirmation follows ServiceNow’s robust Q2 2025 performance.

The company reported better-than-expected second-quarter results and also raised its guidance for both third quarter and the full year. It has demonstrated significant momentum in its AI offerings.

In particular, its Pro Plus business grew 50% quarter-over-quarter, and Control Tower reached full-year expectations within its first 60 days on the market. The company also managed to secure a $20 million annual contract value Now Assist deal during the second quarter.

“ServiceNow reported an impressive 2Q25 in a volatile software tape, with beat-and-raises across the board. Success in larger deals and expansions continues, with deals over $20M ACV growing 30% y/y, and adjacent market efforts in CRM and Data (Fabric, Raptor DB) continue to show promise with numerous positive data points (more below). AI Control Tower already exceeded NNACV expectations for the full year 60 days since the product was released and Now Assist closed its largest deal to date with over $20M in ACV. We view ServiceNow as one of the best-positioned software businesses to execute on the massive AI opportunity ahead across a UI, agent, and data perspective. With this view we reiterate our OW rating and maintain our $1,200 PT, implying 16x CY26 EV/Revenue, a slight premium to its one-year average supported by the company’s pole position in AI supported by 2Q25 momentum.”

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