ServiceNow

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We drop our target price to $841 from $852 on a P/E of 60x our NTM EPS view of $14.02, above its 1-year average as NOW consolidates share in ITOM/ITSM and builds Gen AI momentum. We lift our 2024 EPS forecast to $13.54 from $13.10, but trim our 2025 EPS view to $16.15 from $16.35. NOW posted Q1 sales of $2.6B, above consensus by $10M, while non-GAAP EPS of $3.41 beat by $0.28. Sales rose 24.2% Y/Y, led by Subscription growth of 24.5%, slightly lower than expected, from fewer transactions with ACVs above $1M (-10.6% Y/Y). FX also contributed to a 50 bps headwind to subscription sales and RPO growth (+26.4% Y/Y). NOW raised the midpoint of its full-year subscription sales guide marginally ($3M), which includes a […]

ServiceNow (NOW) posted “relatively uneventful” Q1 results, with the company’s upcoming analyst day and the potential for better current remaining performance obligations, or cRPO, growth in the second half of the year seen as its next catalysts, Morgan Stanley said Thursday. Late Wednesday, the company reported Q1 constant-currency cRPO growth of 21%, which Morgan Stanley said was 100 basis points better than outlook. ServiceNow’s Q2 constant-currency cRPO growth guidance of roughly 21% topped the consensus for 20% increase, the brokerage said. Morgan Stanley raised its price target on the ServiceNow stock to $830 from $814. The firm maintained its overweight rating on the stock, with the company’s potential next catalysts being its May 6 analyst day and second-half results, “where we see more upside to estimates and the potential for better [constant-currency] cRPO growth,” according to the note. The company’s shares were down over 5% in recent trading.

UBS analyst Karl Keirstead maintains ServiceNow (NYSE:NOW) with a Buy and raises the price target from $885 to $920.

ServiceNow (NOW) has a large growth opportunity in the customer market, Oppenheimer said in a note Thursday following a recent interview with a “large” ServiceNow partner. “Customer workflows are time-consuming and manual, requiring updating records, exchanging spreadsheets, and other processes,” Oppenheimer said. “In our view, the opportunity is ripe for ServiceNow to disrupt this market by leveraging AI and its integration architecture to help organizations maintain records and service needs in real-time.” The ServiceNow partner experienced robust business activity and pipeline momentum in Q1, according to the firm. “ServiceNow remains well positioned to leverage its position as a leading enterprise integration engine and impresses us with its technology-vision and execution,” Oppenheimer said. Oppenheimer maintained ServiceNow’s outperform rating and $825 price target.

Keybanc analyst Jason Ader initiates coverage on ServiceNow (NYSE:NOW) with a Overweight rating and announces Price Target of $1000.

Stifel analyst Brad Reback reiterates ServiceNow (NYSE:NOW) with a Buy and maintains $820 price target.

Stifel analyst Brad Reback reiterates ServiceNow with a Buy and maintains $820 price target.

ServiceNow to Acquire Atrinet NetACE Network Technology to Accelerate Business Transformation for Telcos Acquisition to enable end-to-end network lifecycle management for telecommunications companies on a single, AI-first platform BARCELONA, Spain–(BUSINESS WIRE)–February 25, 2024– Mobile World Congress — ServiceNow (NYSE: NOW), the leading digital workflow company making the world work better for everyone, today announced it has signed an agreement to acquire NetACE(TM) network management and automation technology from Atrinet to accelerate business transformation for telecommunications companies (telcos). Once re-platformed into the ServiceNow platform, Atrinet’s NetACE technology will enable comprehensive, end-to-end network lifecycle management for telcos on a single, AI-first digital workflow platform. Telcos often lack the tools and technology needed to drive efficiency in managing their network, and frequently rely on manual processes. The addition of Atrinet’s NetACE network discovery and activation capabilities to the Now platform will address these challenges by delivering stronger connectivity for telcos’ workflows and greater

ServiceNow (NYSE:NOW) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/26/2024 15.14% Citigroup $862 → $896 Maintains Buy 01/26/2024 16.94% Goldman Sachs $800 → $910 Maintains Buy 01/25/2024 13.73% UBS $865 → $885 Maintains Buy 01/25/2024 11.8% Baird $780 → $870 Maintains Outperform 01/25/2024 5.37% Mizuho $750 → $820 Maintains Buy 01/25/2024 9.23% RBC Capital $840 → $850 Maintains Outperform 01/25/2024 -3.62% Truist Securities $700 → $750 Maintains Hold 01/25/2024 5.37% Stifel $740 → $820 Maintains Buy 01/25/2024 9.23% BMO Capital $630 → $850 Maintains Outperform 01/25/2024 16.94% Goldman Sachs $800 → $910 Maintains Buy 01/25/2024 6.66% Piper Sandler $750 → $830 Maintains Overweight 01/25/2024 14.37% Barclays $870 → $890 Maintains Overweight 01/25/2024 15.65% Needham → $900 Reiterates Buy → Buy 01/23/2024 11.8% Barclays $765 → $870 Maintains Overweight 01/22/2024 6.02% JMP Securities $665 → $825 Maintains Market Outperform 01/22/2024 15.65% Needham

Goldman Sachs analyst Kash Rangan maintains ServiceNow (NYSE:NOW) with a Buy and raises the price target from $800 to $910.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target price to $852 from $771 on a P/E of 65x our 2024 EPS view on large deal momentum and revenue upside from GenAI demand. We increase our 2024 EPS forecast to $13.10 from $12.85 and start 2025’s at $16.35. NOW posted Q4 revenue of $2.44B, above consensus by $40M, and non-GAAP EPS of $3.11 beat by $0.33. Sales accelerated 25.6% (versus +20% in Q4 of the prior year) driven by a strong volume of large transactions; NOW notched 168 deals with annual contract values (ACVs) exceeding $1M, up 33% Y/Y. Although results benefited from easier comps, we see performance indicative of a more positive demand environment and NOW’s strong execution. RPO accelerated 28.6% Y/Y (versus 21.7% Y/Y in Q4 2022), reflecting enterprise appetite

ServiceNow (NYSE:NOW) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 16.81% Needham → $900 Reiterates Buy → Buy 01/23/2024 12.92% Barclays $765 → $870 Maintains Overweight 01/22/2024 7.08% JMP Securities $665 → $825 Maintains Market Outperform 01/22/2024 16.81% Needham $660 → $900 Maintains Buy 01/18/2024 3.83% Oppenheimer $750 → $800 Maintains Outperform 01/16/2024 -9.15% Truist Securities $575 → $700 Maintains Hold 01/11/2024 -3.96% Stifel $650 → $740 Maintains Buy 12/06/2023 -0.06% Argus Research $675 → $770 Maintains Buy 11/30/2023 -5.9% Wells Fargo $675 → $725 Maintains Overweight 11/09/2023 -11.74% RBC Capital $665 → $680 Maintains Outperform 10/26/2023 -15.64% Stifel $640 → $650 Maintains Buy 10/26/2023 -19.53% Piper Sandler $600 → $620 Maintains Overweight 10/26/2023 -18.23% BMO Capital $615 → $630 Maintains Outperform 10/26/2023 -12.39% Wells Fargo $650 → $675 Maintains Overweight 10/26/2023 -15.9% Morgan Stanley $630 → $648 Maintains Overweight 10/26/2023