ServiceNow Targets $30B Revenue, Agentic AI Drives Growth

ServiceNow is targeting over $30 billion in subscription revenue by 2030, driven by agentic AI growth. This announcement comes as Cantor Fitzgerald reiterated an Overweight rating on the stock with a $122 price target. ServiceNow recently showcased expanded agentic AI use on its platform. They also detailed new partnerships, including one with Amazon Web Services for AI governance and another with Accenture to deliver agentic AI at enterprise scale. Despite the stock trading near $91, well off its 12-month high, major institutions like Vanguard and Jennison Associates sharply increased their holdings in the last quarter. This indicates a strong institutional belief in the company's future.