Key PointsServiceNow stock is plummeting as growth investors rotate capital away from legacy SaaS names.ServiceNow's revenue has been decelerating for years, and the company's gross margin profile is eroding.Traditional SaaS platforms are increasingly facing competition from AI agents developed by Anthropic and OpenAI.10 stocks we like better than ServiceNow › Over the last couple of months, some growth investors have rotated away from SaaS stoc…