Goldman Sachs analyst Kash Rangan maintains $ServiceNow (NOW.US)$ with a buy rating, and adjusts the target price from $910 to $1,000.
According to TipRanks data, the analyst has a success rate of 58.6% and a total average return of 9.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $ServiceNow (NOW.US)$'s main analysts recently are as follows:
In preparation for the software sector's Q3 earnings review, sentiments are tempered due to supplier checks indicating a less promising outlook for the upcoming earnings season. Despite this, there is optimism for a company specializing in software intelligence, which may exceed expectations and elevate its forecasts. On the other hand, a leading technology corporation has shown weaker indicators, although these might already be reflected in its current valuation. Additionally, a company focusing on digital media measurement may face challenges that limit its potential upside.
The firm's heightened confidence in the company's sustainable growth trajectory has been noted. Analysts believe that ServiceNow is well-positioned to maintain its expansion within the core IT Service Management market and to stimulate growth across new product lines, capitalizing on its substantial existing customer base to enhance sales.
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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