Evercore analyst Kirk Materne maintains $ServiceNow (NOW.US)$ with a buy rating, and adjusts the target price from $850 to $950.
According to TipRanks data, the analyst has a success rate of 60.9% and a total average return of 10.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $ServiceNow (NOW.US)$'s main analysts recently are as follows:
Ahead of the third-quarter earnings release, observations from three partners of ServiceNow indicated a stronger than anticipated performance, with two of the largest partners surpassing their growth objectives for their ServiceNow practices and one signaling a wider cyclical and seasonal uplift in demand starting this summer. This has contributed to a confident outlook for a substantial beat in the current remaining performance obligations for the third quarter.
Feedback has consistently indicated a strong performance for ServiceNow, pointing to sustained momentum and the potential for growth driven by the adoption of AI technologies. Anticipations are set for a robust model in the coming year, leading to revised projections.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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