business / news / / Benzinga
Investors are rotating out of high-flying semiconductor stocks and channeling capital into beaten-down enterprise software names.
Bank of America Securities reinstated coverage on ServiceNow with a buy rating and $130 price target.
KEY POINTS
- Investors are rotating capital from semiconductor stocks into enterprise software, benefiting ServiceNow.
- ServiceNow integrated Experian's Ascend platform, deploying AI agents for high-regulation tasks like fraud verification.
- ServiceNow aims to sustain gross margins above 80% while scaling Now Assist, countering AI margin erosion concerns.
- Management reaffirmed a 2030 annual subscription revenue target exceeding $30 billion.
COMPANIES
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