ServiceNow initiated with a Buy at Benchmark

Benchmark analyst Yi Fu Lee initiated coverage of ServiceNow (NOW) with a Buy rating and $125 price target ServiceNow is a cloud platform integrating AI, data, security, and automated workflows to drive productive enterprise collaboration and digital transformation, the analyst tells investors in a research note. The 45% market decline since January 2025 is seen as an opportunity, as the company is well positioned to benefit from the Agentic AI supercycle, with strong leadership under CEO Bill McDermott supporting long-term profitable growth, Benchmark adds.