ServiceNow (NYSE:NOW) Price Target Raised to $170.00

ServiceNow (NYSE:NOW) had its target price upped by BTIG Research from $150.00 to $170.00 in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the information technology services provider’s stock.

Other analysts also recently issued reports about the company. Citigroup reiterated a “market outperform” rating on shares of ServiceNow in a research report on Thursday, July 23rd. TD Cowen restated a “buy” rating and issued a $140.00 price target on shares of ServiceNow in a report on Monday, August 17th. UBS Group set a $248.00 price target on shares of ServiceNow in a research note on Thursday, July 23rd. Cantor Fitzgerald lifted their price objective on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Finally, Morgan Stanley set a $180.00 price objective on shares of ServiceNow in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.73.

ServiceNow Price Performance

Shares of NOW stock opened at $131.19 on Tuesday. ServiceNow has a 52-week low of $81.24 and a 52-week high of $194.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $135.65 billion, a P/E ratio of 81.99, a P/E/G ratio of 2.39 and a beta of 0.97. The stock has a 50 day moving average price of $119.74 and a 200 day moving average price of $108.75.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the business earned $0.81 EPS. ServiceNow’s revenue was up 24.0% compared to the same quarter last year. As a group, sell-side analysts predict that ServiceNow will post 2.24 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Paul Fipps sold 2,034 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the sale, the insider directly owned 18,305 shares of the company’s stock, valued at $2,706,760.35. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the transaction, the director owned 43,990 shares in the company, valued at approximately $5,960,645. The trade was a 5.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,081 shares of company stock valued at $1,937,904 over the last three months. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On ServiceNow

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System increased its holdings in ServiceNow by 9,980.9% during the second quarter. California State Teachers Retirement System now owns 154,496,061 shares of the information technology services provider’s stock valued at $15,338,369,000 after buying an additional 152,963,494 shares during the period. BlackRock Inc. purchased a new stake in ServiceNow during the second quarter worth $9,536,615,000. State Street Corp lifted its holdings in 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 buying an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in 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 buying an additional 25,517,218 shares during the period. Finally, Geode Capital Management LLC boosted its position in ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after acquiring an additional 18,854,775 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s agentic-AI momentum remains the primary bullish theme. AI annual contract value surpassed $1 billion in the second quarter, while customer production deployments reportedly increased ninefold in nine months. The company’s broad enterprise platform and deep workflow integration could support longer-term AI growth, although AI revenue is still a relatively small part of total sales. ServiceNow: The Agentic AI Frontier
• Positive Sentiment: BTIG research reportedly expects ServiceNow’s stock price to rise, providing additional analyst support as investors assess the company’s AI opportunity. ServiceNow Stock Price Expected to Rise
• Positive Sentiment: RoboMQ launched Hire2Retire IGA on the ServiceNow Store. The companion identity-governance application uses ServiceNow’s workflows, approvals and service catalog, potentially strengthening the platform’s ecosystem and customer value without requiring companies to replace existing investments. RoboMQ Launches Hire2Retire IGA on ServiceNow
• Positive Sentiment: Fortune announced an October 1 AI summit in partnership with ServiceNow. The event should increase the company’s visibility as an enterprise-AI leader and may provide a venue for customer and product announcements. Fortune AIQ Summit Partnership
• Neutral Sentiment: Recent Goldman Sachs and Citi conference transcripts, along with ServiceNow’s AFP Pinnacle Award finalist recognition, add investor attention and credibility but do not provide specific new targets, guidance or material contract announcements.
• Neutral Sentiment: Several reports describe ServiceNow as an attractive long-term AI investment and highlight that the stock trades near multiyear lows despite more than $1 billion in AI revenue. These are opinion-based outlooks rather than changes to near-term earnings expectations. Prediction: ServiceNow Will Be Worth This in 2028
• Negative Sentiment: ServiceNow remains valued at a high earnings multiple, making the shares sensitive to any slowdown in subscription growth, AI monetization or enterprise technology spending. The latest articles do not identify a new negative catalyst, but the valuation remains a risk.

ServiceNow Company Profile

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company’s products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.