Bank of America Securities Remains Bullish on ServiceNow (NOW)

ServiceNow, Inc. (NYSE:NOW) is one of the best long term low volatility stocks to buy right now. Bank of America Securities analyst Bradley Sills reiterated a bullish outlook for ServiceNow, Inc. (NYSE:NOW) on October 21, retaining the $1,200 price target.

The analyst stated that ServiceNow, Inc.’s (NYSE:NOW) core IT service management and operations categories are experiencing stable to improving demand, further supported by solid upgrades and a healthy pilot deals pipeline.

Sills also cited the rising adoption of ServiceNow, Inc.’s (NYSE:NOW) HR solutions with enterprises relying on it as a strategic interface, along with the strong deal activity in the Federal sector.

In addition, favorable currency conditions are likely to support the potential for a slight upside in Q3’s current remaining performance obligations growth, according to the analyst.

ServiceNow, Inc. (NYSE:NOW) offers an AI platform for business transformation, boosting productivity and maximizing business outcomes. Its intelligent platform, Now Platform, provides end-to-end workflow automation for digital businesses. Now Platform functions as a cloud-based solution embedded with AI and ML.

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.