ServiceNow's Bullish Thesis: Repositioning for the Autonomous Enterprise

ServiceNow, Inc. (NOW) is repositioning itself as a unified platform for digital workflows, transitioning from seat-based SaaS to outcome-based monetization through Pro Plus pricing and its Assist Token model. This shift is expected to drive steady revenue expansion and exponential upside as AI-driven productivity increases workload throughput. NOW's competitive moat is reinforced by a single data architecture, high-performance infrastructure, and expanded visibility into physical assets. Despite risks, the market continues to undervalue this transition, offering exposure to a structural shift toward the autonomous enterprise.