Wall Street Is Warming Up to ServiceNow Stock. That’s Because It’s Now a Bet on Agentic AI.

For much of the past year, investors worried that generative artificial intelligence (AI) would disrupt the traditional enterprise software model. But Wall Street is beginning to rethink that narrative when it comes to ServiceNow (NOW). Increasingly, analysts see the company not as a casualty of the AI era, but as one of its biggest infrastructure winners.

That shift in sentiment became more visible this week after Bank of America resumed coverage of ServiceNow with a “Buy” rating and a price target of $130.00, arguing that the company is uniquely positioned to benefit from the rise of agentic AI with autonomous AI systems capable of executing tasks, making decisions, and orchestrating workflows across enterprises.