ServiceNow is trading near its 52-week low even after posting strong Q4 earnings with revenue up 20.5% and adding $5 billion to its buyback program. They also just appointed a new chief accounting officer. Morgan Stanley thinks the recent drop in software valuations is a buying opportunity. They argued that worries about AI disruption are overdone and highlighted ServiceNow along with Microsoft and Salesforce as attractive picks. Truist took a different angle and cut their price target to $175 from $240. They kept a buy rating but noted that companies relying on seat-based models have been lagging lately.