ServiceNow's (NOW) Q2 results could demonstrate the diversity of the company's core business and multiple growth drivers, Deutsche Bank said in a Friday note.
Deutsche Bank said it expects ServiceNow to report a "modest beat-and-raise quarter" as its partner checks indicated that the company had a strong June amid uncertainties and a mixed environment.
"We don't expect 2Q results to meaningfully assuage AI fears," said the investment firm, noting that investors remain concerned over the company's timeline for AI incrementality.
ServiceNow is set to release its Q2 results on July 23.
Deutsche Bank has a buy rating on ServiceNow with a $1,150 price target.
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