ServiceNow (NYSE:NOW) held its ServiceNow financial analyst day on Monday, May 6, in Las Vegas, and analysts have reacted positively to the event so far.
RBC Capital said in a research note that they came away incrementally more positive on the opportunity for the company.
Referring to NOW, the firm believes generative artificial intelligence (AI) functionality "should be infused across every workflow in every product across every industry."
"The company did a good job at providing additional, early context on the opportunity around Pro Plus adoption while platform innovation and expansion likely point to additional significant opportunities to come, including around the front office," wrote RBC.
The investment firm declared that ServiceNow "remains one of the best positioned to monetize GenAI and one of our best ideas."
Meanwhile, Morgan Stanley said the Analyst Day "well illustrated the core of the long-term investment thesis for NOW."
The firm highlighted factors including the company's broadening opportunity, its strong execution of the opportunity, and best-in-class unit economics.
Morgan Stanley said the company has a "unified and organically grown Cloud platform" that enables a rapid pace of innovation. They noted ServiceNow has expanded the solution portfolio from 11 product groups in 2018 to 22 in 2024 and expanded the total available market (TAM) from $100 billion in 2018 to a forecast of $275 billion in 2026.