Core Viewpoint - ServiceNow, Inc. is gaining attention on Wall Street as an AI stock, with Cantor Fitzgerald maintaining an Overweight rating and a price target of $240.00, driven by factors such as seat growth, strong federal sector results, AI initiatives, and increased M&A activity [1][2]. Group 1: Financial Performance and Projections - The stock is currently trading near its three-year valuation low at 8.5x projected 2027 revenue, with analysts optimistic about exceeding the current consensus estimate of 18% growth for calendar 2027 [2]. - Factors supporting this growth include rising seat adoption, a robust federal business, momentum in AI, and increased M&A activity [2]. Group 2: M&A Activity and Market Expansion - Cantor Fitzgerald views ServiceNow's recent M&A activity not as a means to buy growth but as a strategy to expand the company's total addressable market, aligning with insights from Knowledge 2025 [3]. - The company is enhancing its AI data stack with a focus on governance and security to better meet customer needs [3]. Group 3: Company Overview - ServiceNow, Inc. provides a platform that integrates workflows, data, and AI to coordinate work across large organizations [3].