ServiceNow (NYSE:NOW) Price Target Raised to $120.00 at Capital One Financial

ServiceNow (NYSE:NOW) had its price target raised by investment analysts at Capital One Financial from $105.00 to $120.00 in a report released on Tuesday,MarketScreener reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Capital One Financial‘s price target suggests a potential upside of 31.94% from the company’s previous close.

NOW has been the topic of a number of other research reports. BMO Capital Markets cut their price target on shares of ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Weiss Ratings lowered shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, April 21st. TD Cowen reissued a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, Canaccord Genuity Group cut their price objective on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.35.

ServiceNow Stock Down 1.1%

NOW traded down $1.02 during trading on Tuesday, reaching $90.95. The company had a trading volume of 6,016,323 shares, compared to its average volume of 21,062,891. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow has a 12 month low of $81.24 and a 12 month high of $211.48. The business’s fifty day moving average price is $103.45 and its 200 day moving average price is $134.58. The company has a market cap of $93.77 billion, a P/E ratio of 54.26, a PEG ratio of 1.61 and a beta of 0.82.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The business’s revenue was up 22.1% on a year-over-year basis. Equities analysts anticipate that ServiceNow will post 2.35 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Kevin Thomas Mcbride sold 1,400 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the sale, the insider owned 26,314 shares of the company’s stock, valued at $2,781,652.94. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Fipps sold 3,696 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares in the company, valued at approximately $820,367.97. This represents a 31.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 25,164 shares of company stock worth $2,497,021. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors have recently added to or reduced their stakes in the company. Magnus Financial Group LLC increased its holdings in ServiceNow by 1.9% during the third quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider’s stock worth $542,000 after buying an additional 11 shares during the last quarter. Avidian Wealth Enterprises LLC increased its holdings in ServiceNow by 2.5% during the third quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock worth $417,000 after buying an additional 11 shares during the last quarter. Yoder Wealth Management Inc. increased its holdings in ServiceNow by 4.6% during the third quarter. Yoder Wealth Management Inc. now owns 272 shares of the information technology services provider’s stock worth $250,000 after buying an additional 12 shares during the last quarter. Meridian Wealth Advisors LLC increased its holdings in ServiceNow by 2.2% during the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock worth $508,000 after buying an additional 12 shares during the last quarter. Finally, Valley Brook Capital Group Inc. increased its holdings in ServiceNow by 2.1% during the third quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider’s stock worth $583,000 after buying an additional 13 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Citi and other firms raised or reaffirmed bullish views and price targets (Citi to $158; BTIG $150; Citizens JMP $157; Needham $115), supporting upside expectations ahead of and following the company’s analyst/Investor Day. Is ServiceNow (NOW) the Best AI Stock with Potential to Rise 1000 Percent?
• Positive Sentiment: Company-longer term targets and AI traction: management laid out an ambition to double subscription revenue (targeting ~$30B by 2030 / $32B by 2030 in other coverage) and highlighted Now Assist >$750M ACV — messaging that supports major long-term revenue upside if AI monetization scales. ServiceNow lays out path to $30 billion in annual subscription revenue as AI bets accelerate
• Positive Sentiment: Product and partner momentum: new third?party products and integrations are being built on ServiceNow (Novaworks HR OS, Ataccama data?quality signals, DXC multi?year agreement and embedded Context Engine AI), reinforcing platform stickiness and enterprise AI use cases. Novaworks.ai Launches AI-Native Core HR Operating System for Total Workforce Management, Built on ServiceNow Ataccama Brings Data Quality Signals into ServiceNow to Power AI with Trusted Data ServiceNow embeds AI across all products with Context Engine
• Neutral Sentiment: Investor/Analyst Day focus: BNP and others expect management to emphasize AI product innovation, pricing and monetization — this is an execution event (potential catalyst) but outcomes will dictate direction. ServiceNow’s investor day likely to focus on AI product innovation, pricing: BNP
• Negative Sentiment: Wolfe Research trimmed its price target to $125 (from $175), citing conservative guidance and delayed on?prem deals in the Middle East — a sign that near?term execution risks and conservatism in guidance can pressure the stock. Wolfe Research Lowers PT on ServiceNow (NOW) stock
• Negative Sentiment: Investor concerns about M&A/pricing discipline: media coverage highlights investor scrutiny over the company’s recent AI-related acquisitions and whether they mask growth gaps — ongoing integration and capital allocation questions may weigh on sentiment. ServiceNow CEO sends blunt message on acquisitions

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.