JPMorgan: ServiceNow Momentum Intact Ahead of Earnings, AI Monetization Expected Until 2027
JPMorgan assesses that contract renewals and expansion, along with AI product version upgrades, support a Q3 beat, but as AI monetization is more likely to occur in 2027, further re-rating will require evidence of stable organic cRPO growth. Maintains Overweight with a $150 price target, implying 3.2% upside from current levels.
