ServiceNow (NYSE:NOW) Price Target Raised to $165.00

ServiceNow (NYSE:NOW) had its price target upped by TD Cowen from $140.00 to $165.00 in a report released on Thursday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the information technology services provider’s stock.

A number of other research analysts have also recently issued reports on the company. Bank of America boosted their target price on ServiceNow from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Jefferies Financial Group reiterated a “buy” rating on shares of ServiceNow in a report on Tuesday. Cantor Fitzgerald boosted their price objective on shares of ServiceNow from $141.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, September 21st. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a report on Monday, August 3rd. Finally, BTIG Research restated a “buy” rating and set a $170.00 target price on shares of ServiceNow in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $151.73.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $141.74 on Thursday. The business has a fifty day moving average of $135.20 and a 200-day moving average of $113.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. ServiceNow has a twelve month low of $81.24 and a twelve month high of $192.97. The firm has a market cap of $146.56 billion, a PE ratio of 88.58, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. ServiceNow’s revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 EPS. On average, equities research analysts predict that ServiceNow will post 2.22 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the sale, the director directly owned 43,990 shares in the company, valued at $5,960,645. This represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline Canney sold 7,847 shares of ServiceNow stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the completion of the transaction, the insider directly owned 30,042 shares in the company, valued at $4,145,796. This trade represents a 20.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 14,081 shares of company stock worth $1,937,904. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NOW. Onyx Bridge Wealth Group LLC bought a new stake in shares of ServiceNow during the third quarter valued at approximately $254,000. Banque Pictet & Cie SA acquired a new stake in ServiceNow in the 3rd quarter valued at $1,333,000. James T. Borello RIA acquired a new stake in shares of ServiceNow in the 3rd quarter valued at $56,000. Fortitude Advisory Group L.L.C. acquired a new position in shares of ServiceNow in the 3rd quarter worth approximately $340,000. Finally, Perpetual Ltd grew its position in ServiceNow by 12.3% during the 3rd quarter. Perpetual Ltd now owns 6,215 shares of the information technology services provider’s stock worth $833,000 after acquiring an additional 682 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Piper Sandler raised its price target to $175 from $140 and maintained an “overweight” rating, implying meaningful upside and reflecting confidence in ServiceNow’s growth outlook. ServiceNow Stock Trending: Employees Build AI Agents with Nvidia Oversight
• Positive Sentiment: ServiceNow introduced new EmployeeWorks capabilities that allow employees to build AI agents without coding, along with an Nvidia-backed AI Passport designed to manage permissions, business context and emergency controls for AI agents. These products could strengthen adoption of ServiceNow’s workflow and governance platform. ServiceNow introduces the third generation of its employee-centric AI harness
• Positive Sentiment: Recent coverage highlights ServiceNow’s deep integration into enterprise systems, strong customer retention and consistent revenue growth. Analysts also expect potential support from customer upgrades, security-product demand and U.S. federal spending. ServiceNow stock rises as investors rotate to enterprise software stocks
• Neutral Sentiment: ServiceNow’s shares benefited previously from a denial of reports that it was interested in acquiring AI startup Decagon, reducing concerns about a potentially expensive acquisition. That benefit has faded as broader market sentiment has deteriorated. ServiceNow Climbs After Denying Decagon Acquisition Interest
• Negative Sentiment: Enterprise software stocks are falling as AI-financing concerns spread. Investors appear to be taking profits and reducing exposure to expensive AI beneficiaries, with ServiceNow declining alongside Palantir and Salesforce despite its improving AI product portfolio. Enterprise Software Stocks Fall as AI Financing Worries Spread

About ServiceNow

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.