ServiceNow’s (NOW) “Buy” Rating Reiterated at TD Cowen

TD Cowen restated their buy rating on shares of ServiceNow (NYSE:NOW) in a research report report published on Friday morning,Benzinga reports. TD Cowen currently has a $140.00 target price on the information technology services provider’s stock.

A number of other brokerages also recently issued reports on NOW. BTIG Research restated a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a research note on Monday, June 29th. Oppenheimer reissued an “outperform” rating and issued a $140.00 price target (up from $130.00) on shares of ServiceNow in a report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Sanford C. Bernstein restated an “outperform” rating on shares of ServiceNow in a research report on Monday, June 29th. Finally, Raymond James Financial decreased their price objective on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.03.

ServiceNow Stock Performance

NOW stock opened at $103.40 on Friday. The firm has a market cap of $106.60 billion, a PE ratio of 61.62, a P/E/G ratio of 1.73 and a beta of 0.96. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $103.97 and a 200-day moving average of $109.27. ServiceNow has a 12-month low of $81.24 and a 12-month high of $210.20.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the business posted $0.81 earnings per share. As a group, sell-side analysts expect that ServiceNow will post 2.33 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director owned 44,930 shares of the company’s stock, valued at $3,919,243.90. The trade was a 3.23% 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. In the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ServiceNow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after buying an additional 81,752,460 shares in the last quarter. State Street Corp lifted its position in shares of ServiceNow by 406.6% during the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after acquiring an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of ServiceNow by 371.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after acquiring an additional 25,517,218 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ServiceNow by 404.8% during the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after acquiring an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of ServiceNow by 335.6% in the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after acquiring an additional 17,514,679 shares during the period. Institutional investors own 87.18% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: TD Cowen reaffirmed its buy rating on ServiceNow and set a $140 price target, implying meaningful upside from current levels. Benzinga report on TD Cowen rating
• Positive Sentiment: BNP Paribas and RBC Capital both raised their views on ServiceNow ahead of earnings, citing conservative guidance, improving channel feedback, and stronger demand signals. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several analysts argue ServiceNow could benefit from continued AI adoption and subscription growth, which may help support an earnings beat or solid outlook when Q2 results are reported. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Neutral Sentiment: Media coverage comparing ServiceNow with UiPath highlights agentic AI as a major long-term opportunity, but this is more of a strategic theme than an immediate catalyst. UiPath Vs. ServiceNow: Which Agentic AI Stock Is the Better Buy?
• Negative Sentiment: Some analysts and commentators warn that rising costs, competition, and still-rich valuation multiples could limit upside if Q2 results or guidance disappoint. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Negative Sentiment: ServiceNow remains down sharply over the past year, and some investors still question whether the stock deserves a premium multiple after the selloff. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?

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.