• In May 2026, ServiceNow held its annual shareholder meeting where investors rejected a proposal to allow action by written consent, while the company deepened its AI role through new partnerships with Experian and Wipro and highlighted strong adoption of its platform on Amazon Web Services exceeding US$1.00 billion in transactions.
• These developments underscore how ServiceNow is positioning its workflow platform as an AI “control tower” for enterprises, embedding agentic AI across partners’ ecosystems rather than being displaced by it.
• We’ll now examine how ServiceNow’s push to become an AI control tower, reinforced by the Wipro partnership, reshapes its investment narrative.

AI is about to change healthcare. These 39 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.

ServiceNow Investment Narrative Recap

To own ServiceNow, you need to believe its AI platform can stay at the center of enterprise workflows while justifying a premium multiple. Right now, the key near term catalyst is broader adoption of its AI “control tower” across large customers and partners, while the biggest risk is execution on AI and acquisition integration, which could pressure margins. The latest shareholder vote on written consent looks immaterial to either the near term catalyst or that core risk.

The expanded Wipro partnership is particularly relevant here, because it directly tests whether ServiceNow’s agentic AI vision can scale across real-world enterprise workflows. If Wipro’s clients ramp usage of ServiceNow’s AI platform, it could reinforce the thesis that AI increases workflow consumption instead of replacing it, making execution quality on these alliances even more central to the story.

Yet behind the AI growth story, investors should also be aware of how rising AI spend and new pricing models could pressure margins if...

ServiceNow's narrative projects $23.6 billion revenue and $4.0 billion earnings by 2029. This requires 19.2% yearly revenue growth and about a $2.2 billion earnings increase from $1.8 billion today.

Uncover how ServiceNow's forecasts yield a $142.50 fair value, a 15% upside to its current price.

Exploring Other Perspectives

Some of the most optimistic analysts were already assuming revenue could reach about US$26.1 billion and earnings US$5.7 billion by 2029, so if AI adoption, hybrid pricing, and partnerships like Wipro scale differently than expected after this news, your view could end up much closer to their bullish scenario or the more cautious consensus starting point.

Explore 17 other fair value estimates on ServiceNow - why the stock might be worth 13% less than the current price!

The Verdict Is Yours

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your ServiceNow research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.
• Our free ServiceNow research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate ServiceNow's overall financial health at a glance.

Ready For A Different Approach?

The market won't wait. These fast-moving stocks are hot now. Grab the list before they run:

• The future of work is here. Discover the 33 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation.
• Outshine the giants: these 12 early-stage AI stocks could fund your retirement.
• Rare earth metals are an input to most high-tech devices, military and defence systems and electric vehicles. The global race is on to secure supply of these critical minerals. Beat the pack to uncover the 31 best rare earth metal stocks of the very few that mine this essential strategic resource.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.