Investors should consider buying this enterprise software stock and "leading workflow automation AI name" that has risen more than 57% this year.
Analyst Brad Sills reiterated ServiceNow as a top pick and a buy in a Wednesday note to clients, revising his price target to $700 from $600 a share.
ITSM and ITOM stand for IT service management and IT operations management software, respectively.
Sills' upside case anticipates mid-20s growth through 2028, and should account for $28.3 billion in revenue, or 27.6% of these markets combined.
Recent commentary with partners also suggested heightened AI interest is contributing to an increase in Pro editions, he added.
Persons:
Brad Sills, ServiceNow, ITSM, Sills, — CNBC's Michael Bloom
Organizations:
Gartner