Where is ServiceNow (NOW) Headed According to the Street?

ServiceNow, Inc. (NYSE:NOW) is one of the best strong buy stocks to invest in right now. On December 30, Canaccord Genuity reaffirmed a bullish stance on ServiceNow, Inc. (NYSE:NOW), giving the stock a Buy rating with a price target of $224.00.

In a separate development, ServiceNow, Inc. (NYSE:NOW) announced on December 23 that it entered into an agreement to acquire Armis, a leading company in cyber exposure management and cyber physical security, for $7.75 billion in cash. Armis manages cyber risk across the full attack surface in IT, medical devices, operational technology (OT), and other environments for governments, companies, and critical infrastructure across the globe. Management stated that the acquisition would expand ServiceNow, Inc.’s (NYSE:NOW) security workflow offerings while also advancing AI-native, proactive cybersecurity, and vulnerability response across all connected devices.

The agreement would bring the two companies together to form an end-to-end security exposure and operations stack able to decide, see, and act across the entirety of the technology footprint through connections between threat intelligence, real-time asset discovery, and risk prioritization.

In another development, ServiceNow, Inc. (NYSE:NOW) announced on December 15 the acquisition of Moveworks, which advances the company’s goal of putting AI to work for people. The initiative merges Moveworks’ intuitive front-end AI assistant, enterprise search, and agentic Reasoning Engine with ServiceNow, Inc.’s (NYSE:NOW) trusted agentic AI and intelligent workflows, expanding the ability of the ServiceNow AI Platform to drive faster outcomes, create compelling AI experiences, scale AI adoption, and redefine employee-work engagement.

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.