ServiceNow receives a new buy rating after a significant pullback

ServiceNow (NOW) has just received a new “Buy” rating from Benchmark, and the timing is quite intriguing.

The stock has been under pressure for a while, down about 45% from its high point in January 2025, so this obviously isn’t a rating issued at the height of market enthusiasm. In fact, that seems to be the key point. Benchmark believes this round of selling has gone too far, and that investors may be underestimating how important ServiceNow could become in the next phase of enterprise AI.

The firm says ServiceNow is not just an ordinary software company trying to ride the AI narrative. Instead, it’s in a favorable position—helping enterprises connect artificial intelligence, data, security, and workflows, and applying it in a way that can truly be used in day-to-day operations.

That’s important because many companies are still figuring out how to move from experimenting with AI tools to using them in real business tasks. ServiceNow’s platform could ultimately become one of the places where this shift happens.

Benchmark also pointed out that the company’s recent acquisitions are part of its growth story, saying these acquisitions help expand its product footprint and long-term market opportunities.

For investors, the takeaway is fairly simple: if AI becomes further integrated into how large enterprises operate, ServiceNow may play a more important role than the market currently gives it credit for.

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