ServiceNow

Barclays analyst Raimo Lenschow maintains ServiceNow (NYSE:NOW) with a Overweight and raises the price target from $870 to $890.

ServiceNow Reports Fourth Quarter and Full-Year 2023 Financial Results — ServiceNow exceeds guidance across all Q4 2023 topline growth and profitability metrics; raises 2024 subscription revenues and operating margin outlook — Subscription revenues of $2,365 million in Q4 2023, representing 27% year-over-year growth, 25.5% in constant currency — Total revenues of $2,437 million in Q4 2023, representing 26% year-over-year growth, 24% in constant currency — Current remaining performance obligations of $8.60 billion as of Q4 2023, representing 24% year-over-year growth, 23% in constant currency — 168 transactions over $1 million in net new ACV in Q4 2023, up 33% year-over-year SANTA CLARA, Calif.SANTA CLARA, Calif.–(BUSINESS WIRE)–January 24, 2024– ServiceNow (NYSE: NOW), the leading digital workflow company making the world work better for everyone, today announced financial results for its fourth quarter ended December 31, 2023, with subscription revenues of $2,365 million in Q4 2023, representing 27% year-over-year growth and 25.5%

By Jon Swartz The software company is riding the momentum of a 27% jump in quarterly subscription sales and an aggressive push into artificial intelligence ServiceNow Inc.’s stock bounced between slight gains and losses in after-hours trading Wednesday, after the company reported a quarterly bounce in revenue on strong subscription sales. “The gen-AI solutions we put into the marketplace in one quarter outsold any other product we put in the market,” ServiceNow (NOW) Chief Executive Bill McDermott said in an interview Wednesday. The software company is riding the momentum of a 27% jump in quarterly subscription sales to $2.37 billion, and an aggressive push into artificial intelligence through partnerships with Nvidia Corp. (NVDA), Amazon.com Inc.’s (AMZN) AWS and others. ServiceNow posted fiscal fourth-quarter net income of $295 million, or $1.44 a share, compared with net income of $150 million, or 74 cents a share, in the year-ago quarter. Adjusted earnings

ServiceNow (NYSE:NOW) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/18/2024 7.09% Oppenheimer $750 → $800 Maintains Outperform 01/16/2024 -6.3% Truist Securities $575 → $700 Maintains Hold 01/11/2024 -0.95% Stifel $650 → $740 Maintains Buy 12/06/2023 3.07% Argus Research $675 → $770 Maintains Buy 11/30/2023 -2.95% Wells Fargo $675 → $725 Maintains Overweight 11/09/2023 -8.98% RBC Capital $665 → $680 Maintains Outperform 10/26/2023 -12.99% Stifel $640 → $650 Maintains Buy 10/26/2023 -17.01% Piper Sandler $600 → $620 Maintains Overweight 10/26/2023 -15.67% BMO Capital $615 → $630 Maintains Outperform 10/26/2023 -9.65% Wells Fargo $650 → $675 Maintains Overweight 10/26/2023 -13.26% Morgan Stanley $630 → $648 Maintains Overweight 10/26/2023 -11.65% Needham → $660 Reiterates Buy → Buy 10/24/2023 -23.03% Truist Securities → $575 Reiterates Hold → Hold 10/24/2023 -17.68% BMO Capital $630 → $615 Maintains Outperform 10/19/2023 -12.06% Guggenheim → $657 Reiterates Buy →

ServiceNow (NYSE:NOW) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 -3.57% Truist Securities $575 → $700 Maintains Hold 01/11/2024 1.94% Stifel $650 → $740 Maintains Buy 12/06/2023 6.08% Argus Research $675 → $770 Maintains Buy 11/30/2023 -0.12% Wells Fargo $675 → $725 Maintains Overweight 11/09/2023 -6.32% RBC Capital $665 → $680 Maintains Outperform 10/26/2023 -10.46% Stifel $640 → $650 Maintains Buy 10/26/2023 -14.59% Piper Sandler $600 → $620 Maintains Overweight 10/26/2023 -13.21% BMO Capital $615 → $630 Maintains Outperform 10/26/2023 -7.01% Wells Fargo $650 → $675 Maintains Overweight 10/26/2023 -10.73% Morgan Stanley $630 → $648 Maintains Overweight 10/26/2023 -9.08% Needham → $660 Reiterates Buy → Buy 10/24/2023 -20.79% Truist Securities → $575 Reiterates Hold → Hold 10/24/2023 -15.28% BMO Capital $630 → $615 Maintains Outperform 10/19/2023 -9.49% Guggenheim → $657 Reiterates Buy → Buy 10/19/2023 -3.57% Citigroup $734 → $700 Maintains

Truist Securities analyst Ki Bin Kim maintains ServiceNow (NYSE:NOW) with a Hold and raises the price target from $575 to $700.

ServiceNow (NYSE:NOW) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/11/2024 3.5% Stifel $650 → $740 Maintains Buy 12/06/2023 7.69% Argus Research $675 → $770 Maintains Buy 11/30/2023 1.4% Wells Fargo $675 → $725 Maintains Overweight 11/09/2023 -4.9% RBC Capital $665 → $680 Maintains Outperform 10/26/2023 -9.09% Stifel $640 → $650 Maintains Buy 10/26/2023 -13.29% Piper Sandler $600 → $620 Maintains Overweight 10/26/2023 -11.89% BMO Capital $615 → $630 Maintains Outperform 10/26/2023 -5.59% Wells Fargo $650 → $675 Maintains Overweight 10/26/2023 -9.37% Morgan Stanley $630 → $648 Maintains Overweight 10/26/2023 -7.69% Needham → $660 Reiterates Buy → Buy 10/24/2023 -19.58% Truist Securities → $575 Reiterates Hold → Hold 10/24/2023 -13.99% BMO Capital $630 → $615 Maintains Outperform 10/19/2023 -8.11% Guggenheim → $657 Reiterates Buy → Buy 10/19/2023 -2.1% Citigroup $734 → $700 Maintains Buy 10/18/2023 -7.69% Needham → $660 Reiterates Buy →

UBS Adjusts ServiceNow Price Target to $820 From $650, Maintains Buy Rating.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We maintain our 12-month target price at $680, on a P/E of 53x our 2024 EPS projection of $12.83 on large deal momentum and growing enterprise reach. We increase our 2023 estimate to $10.46 from $10.39 and our 2024 EPS forecast to $12.83 from $12.55. NOW posted Q3 revenue of $2.29B, above consensus estimates by $14.8M, and non-GAAP EPS of $2.92 beats by $0.37. Revenue accelerated 25% Y/Y (compared to 21% in Q3 2022) from an outperformance in Subscriptions (+27.2% Y/Y, up from 22% in Q3 2022). The company logged an exceptional number of transactions (83 in Q3, up 20% Y/Y) with ACVs above $1M, driven by an acceleration in new large customers and multi-product deals, despite a difficult economic backdrop. U.S. Federal government demand was another

Wells Fargo analyst Michael Turrin maintains ServiceNow (NYSE:NOW) with a Overweight and raises the price target from $650 to $675.

SERVICENOW Posts Q3 EPS $2.92, vs. Street Est of $2.55。

Citigroup analyst Tyler Radke maintains ServiceNow (NYSE:NOW) with a Buy and lowers the price target from $734 to $700.