Deutsche Bank Aktiengesellschaft Cuts ServiceNow (NYSE:NOW) Price Target to $135.00

ServiceNow (NYSE:NOW) had its price objective lowered by equities researchers at Deutsche Bank Aktiengesellschaft from $180.00 to $135.00 in a report released on Thursday,MarketScreener reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 37.54% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. BTIG Research dropped their price target on ServiceNow from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Argus upgraded shares of ServiceNow to a “strong-buy” rating in a report on Wednesday, February 4th. BMO Capital Markets lowered their price objective on shares of ServiceNow from $170.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday. Truist Financial set a $125.00 price target on ServiceNow in a research report on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ServiceNow in a report on Thursday, January 22nd. Three analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.46.

ServiceNow Stock Up 4.2%

NOW opened at $98.16 on Thursday. The stock’s 50 day moving average price is $105.93 and its 200 day moving average price is $141.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $101.70 billion, a P/E ratio of 58.75, a P/E/G ratio of 1.47 and a beta of 1.01. ServiceNow has a 12 month low of $81.24 and a 12 month high of $211.48.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter last year, the company earned $0.73 EPS. ServiceNow’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, research analysts predict that ServiceNow will post 8.93 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $105.71, for a total transaction of $147,994.00. Following the completion of the sale, the insider directly owned 26,314 shares of the company’s stock, valued at approximately $2,781,652.94. The trade was a 5.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Fipps sold 9,641 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total value of $1,021,271.13. Following the completion of the sale, the insider owned 11,757 shares of the company’s stock, valued at $1,245,419.01. This represents a 45.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,237 shares of company stock valued at $1,697,162 in the last ninety days. Insiders own 0.34% of the company’s stock.

Institutional Trading of ServiceNow

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. IAG Wealth Partners LLC grew its holdings in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 18 shares in the last quarter. Bogart Wealth LLC raised its position in shares of ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 15 shares during the period. Wealth Watch Advisors INC acquired a new position in shares of ServiceNow in the third quarter valued at approximately $29,000. Albion Financial Group UT lifted its holdings in ServiceNow by 78.9% during the 3rd quarter. Albion Financial Group UT now owns 34 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 15 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in ServiceNow by 52.0% in the 3rd quarter. True Wealth Design LLC now owns 38 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Jim Cramer flagged ServiceNow as able to go higher, noting an expanded buyback and CEO stock purchases that can support the share price and investor sentiment. Jim Cramer on ServiceNow: “It Can Go Higher”
• Positive Sentiment: Market “risk-on” flows tied to reports of potential peace negotiations lifted growth/software names, helping ServiceNow recover as investors rotate into high?margin, AI-exposed enterprise software. Why Is ServiceNow (NOW) Stock Rocketing Higher Today
• Positive Sentiment: Company expansion and AI execution: ServiceNow is adding data centers and expanding its AI Workflow Hub in Brazil, signaling international AI adoption and revenue expansion opportunities. ServiceNow Expands AI Workflow Hub In Brazil
• Positive Sentiment: Analysts and media point to early signs of AI-driven demand and a modest Q1 beat potential, which supports near?term upside into earnings. ServiceNow Seen Delivering Modest Q1 Beat
• Neutral Sentiment: Industry commentary compares ServiceNow to peers for short candidates but generally favors Shopify as the more exposed name — this piece is more about relative valuation than an immediate catalyst for NOW. ServiceNow vs Shopify: Which Is the Better Short Candidate Right Now?
• Neutral Sentiment: Partner and integration news (TrustCloud integration, SAM partner recognition) and analyst coverage naming ServiceNow among top software names add to the positive narrative but are incremental vs. earnings and macro drivers. TrustCloud Brings AI-Driven Cyber Risk Automation Directly Into ServiceNow
• Negative Sentiment: Multiple analysts trimmed price targets this morning (TD Cowen to $140, Robert W. Baird to $125, BMO to $120 and others), which increases headline volatility and has been a key driver of the stock’s larger YTD decline; several stories note the stock has fallen sharply this year. Benzinga: Analyst Price Target Cuts MarketScreener: BMO Lowers Target
• Negative Sentiment: Coverage highlighting the stock’s roughly 40%+ YTD drop and articles asking whether the selloff is a buying opportunity keep downside pressure by emphasizing execution risk and high prior multiples. Blockonomi: NOW Stock Plunges 43% — Time to Buy?

About ServiceNow

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.