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Aanchal Sugandh

This ‘Strong Buy’ Stock Could Be Decimated by Trump’s Spending Cuts. Is It Time to Jump Ship and Sell Now?

NOW ServiceNow Truist

The landscape for enterprise software faces a shake-up. Cuts driven by the Department of Government Expenditure (DOGE) could dampen growth, yet the increasing need for automation could serve as a powerful counterbalance. The push for leaner operations often brings a surge in technology adoption, making software solutions more critical than ever. 

ServiceNow (NOW) finds itself in the thick of this evolving landscape. Analysts at Truist have singled it out as one of the most vulnerable infrastructure players, prompting a downward revision of its price target from $1,100 to $950. Adding to its exposure, as per Truist, 9% of ServiceNow’s revenue is tied to U.S. federal government contracts, making policy shifts a significant factor in its trajectory. 

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