On Oct 25, major Wall Street analysts update their ratings for $ServiceNow (NOW.US)$, with price targets ranging from $975 to $1,075.
BofA Securities analyst Bradley Sills maintains with a buy rating, and maintains the target price at $1,075.
Citi analyst Tyler Radke maintains with a buy rating, and adjusts the target price from $1,068 to $1,071.
Evercore analyst Kirk Materne maintains with a buy rating, and adjusts the target price from $950 to $1,000.
Baird analyst Robert Oliver maintains with a buy rating, and adjusts the target price from $900 to $975.
Needham analyst Mike Cikos maintains with a buy rating, and adjusts the target price from $900 to $1,075.
Furthermore, according to the comprehensive report, the opinions of $ServiceNow (NOW.US)$'s main analysts recently are as follows:
The company's notable third-quarter performance, which included a 'beat and raise' outcome and showcased increasing revenue from generative artificial intelligence, confirms its exceptional position within the enterprise software sector.
ServiceNow delivered a robust performance in the third quarter, surpassing expectations across various indicators and indicating an upward revision for fiscal 2024 revenues. The significant inflection in artificial intelligence bookings is regarded as a strong proclamation of the company's progress.
The company showcased a robust performance in the third quarter, which was well-received across various sectors, as noted by an analyst. It is anticipated that the company's shares will remain favorable once temporary quarterly expectations are reconciled. With superior sales growth compared to its competitors and robust margins, along with an evolving and convincing narrative around generative artificial intelligence, the company stands out in its market segment.
ServiceNow has shown commendable performance with a notable upside, and its subscription revenue guidance for 2024 has been raised significantly beyond expectations. The company's execution continues to impress, with several positive takeaways from the recent quarter including the growing strength of its platform, the robust adoption of Pro Plus/Now Assist, the debut of Workflow Data Fabric, and an expanding pipeline as the year comes to a close.
The firm acknowledges the quarter's outcomes and insights from the conference call regarding new contract value from previously underperforming sectors, along with the uptake of AI products, are sufficient reasons to maintain a positive stance on the company and to increase the firm's expectations.
Here are the latest investment ratings and price targets for $ServiceNow (NOW.US)$ from 6 analysts:
Note:
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