ServiceNow, Inc. (NYSE:NOW) is labeled as the “cheapest large-cap software stock” after a recent selloff. Bernstein SocGen reiterated an “Outperform” rating with a $1,093.00 price target, citing undervaluation compared to peers like Adobe and Salesforce.

Management points to accelerating demand and recent channel checks support this view. Despite potential macro shocks impacting IT, ServiceNow remains well-positioned for growth due to desired cost-efficiencies. The stock trades below peers like Salesforce, signaling undervaluation.

ServiceNow, Inc. (NYSE:NOW) offers a platform integrating workflows, data, and AI for large organizations. While the stock is seen as undervalued, other AI stocks may offer greater upside potential with less downside risk. Investors interested in AI stocks should consider opportunities beyond ServiceNow.

Read more at Yahoo Finance: ServiceNow (NOW) in Focus as Bernstein Calls It the Cheapest Large-Cap Software Name