ServiceNow (NYSE:NOW) Price Target Raised to $118.00

ServiceNow (NYSE:NOW) had its price target lifted by BMO Capital Markets from $115.00 to $118.00 in a report published on Thursday, Marketbeat reports. BMO Capital Markets currently has an outperform rating on the information technology services provider’s stock.

Other analysts also recently issued research reports about the stock. Sanford C. Bernstein reiterated an “outperform” rating on shares of ServiceNow in a research report on Monday, June 29th. Canaccord Genuity Group lowered their price objective on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. JPMorgan Chase & Co. cut their target price on ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Benchmark restated a “buy” rating on shares of ServiceNow in a research note on Friday, July 17th. Finally, Robert W. Baird reduced their target price on ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.39.

ServiceNow Trading Up 7.4%

NOW opened at $98.77 on Thursday. ServiceNow has a twelve month low of $81.24 and a twelve month high of $201.15. The company has a 50-day simple moving average of $104.77 and a 200 day simple moving average of $107.70. The company has a quick ratio of 0.84, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $101.83 billion, a price-to-earnings ratio of 61.73, a P/E/G ratio of 1.65 and a beta of 0.96.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the company posted $0.81 earnings per share. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. Analysts predict that ServiceNow will post 2.33 EPS for the current fiscal year.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 19,144 shares of company stock valued at $1,730,097 in the last quarter. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

Several large investors have recently bought and sold shares of the company. Millstone Evans Group LLC boosted its position in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after buying an additional 132 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares during the period. Blueline Advisors LLC bought a new stake in shares of ServiceNow in the fourth quarter worth $25,000. Measured Wealth Private Client Group LLC increased its holdings in ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares during the period. Finally, Wealth Watch Advisors INC raised its position in ServiceNow by 432.3% during the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 134 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s Q2 results showed robust growth, with revenue up about 24% year over year and subscription revenue accelerating, reinforcing that demand for its platform remains strong. Article Title
• Positive Sentiment: Management raised guidance and highlighted AI momentum, including AI contract value topping $1 billion and expanding enterprise adoption, which supports the case for continued growth. Article Title
• Positive Sentiment: Several analysts raised or reaffirmed bullish ratings and price targets after earnings, reflecting renewed confidence in ServiceNow’s outlook and valuation upside. Article Title
• Positive Sentiment: New partnerships and channel expansions, including deals with Experian, TeamViewer, and Exclusive Networks, suggest broader adoption of ServiceNow’s AI and cybersecurity offerings. Article Title
• Neutral Sentiment: Investors are also watching mixed signals from insider and institutional trading, with some large funds trimming positions even as others add shares; this appears more like portfolio rebalancing than a clear fundamental warning. Article Title
• Negative Sentiment: Despite the earnings beat, some commentary says the stock’s rally may be vulnerable if AI disruption fears return, especially around usage-based pricing and long-term software demand. Article Title

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.