Bernstein’s revised price target for ServiceNow exceeds consensus by over 90%, citing strong AI-driven growth and enterprise adoption.
Bernstein raised its ServiceNow (NOW) price target to $248, implying 114% upside from the current $115.76, far above the 21% gap reflected in the $140.25 consensus target. The firm’s Outperform rating highlights the company’s leadership in enterprise AI workflows, with annual contract value for AI surpassing $1 billion and agentic deployments surging ninefold in nine months.
ServiceNow’s stock has declined 25% year-to-date, contrasting with its position as the top upside pick among software peers. Competitors like Salesforce (CRM) and Workday (WDAY) show significantly lower implied returns, at 28% and near zero, respectively. The divergence between Bernstein’s target and the Street’s average underscores a split in growth expectations.
The company’s AI Control Tower is positioned as a critical governance layer for enterprise AI, a segment investors are closely monitoring amid broader sector debates on AI disruption.