ServiceNow (NYSE:NOW) Price Target Raised to $175.00

ServiceNow (NYSE:NOW) had its price target upped by Piper Sandler from $140.00 to $175.00 in a research report released on Friday, MarketBeat.com reports. Piper Sandler currently has an overweight rating on the information technology services provider’s stock.

NOW has been the subject of several other reports. BMO Capital Markets upped their price objective on shares of ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Oppenheimer reiterated an “outperform” rating and set a $165.00 price target (up from $140.00) on shares of ServiceNow in a research report on Tuesday, October 13th. Morgan Stanley set a $180.00 price target on shares of ServiceNow in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group reissued a “buy” rating on shares of ServiceNow in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $151.73.

ServiceNow Trading Down 0.2%

Shares of ServiceNow stock opened at $141.74 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. ServiceNow has a 1 year low of $81.24 and a 1 year high of $192.97. The firm has a market cap of $146.56 billion, a PE ratio of 88.58, a PEG ratio of 2.61 and a beta of 0.99. The company has a 50 day simple moving average of $135.20 and a two-hundred day simple moving average of $113.73.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%. ServiceNow’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period last year, the firm posted $0.81 EPS. Analysts expect that ServiceNow will post 2.22 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Paul Chamberlain sold 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the sale, the director owned 43,990 shares of the company’s stock, valued at $5,960,645. This trade represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Fipps sold 2,034 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 18,305 shares in the company, valued at $2,706,760.35. This trade represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,081 shares of company stock worth $1,937,904 over the last 90 days. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NOW. Cornerstone Financial Management LLC raised its position in ServiceNow by 72.8% in the 2nd quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 107 shares during the last quarter. CrossGen Wealth LLC bought a new position in ServiceNow in the 1st quarter valued at $29,000. Marquette Asset Management LLC boosted its position in ServiceNow by 75.0% in the 2nd quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 129 shares during the last quarter. Kilter Group LLC acquired a new stake in shares of ServiceNow in the 2nd quarter valued at $31,000. Finally, Solstein Capital LLC acquired a new stake in shares of ServiceNow in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Piper Sandler raised its price target to $175 from $140 and maintained an “overweight” rating, implying meaningful upside and reflecting confidence in ServiceNow’s growth outlook. ServiceNow Stock Trending: Employees Build AI Agents with Nvidia Oversight
• Positive Sentiment: ServiceNow introduced new EmployeeWorks capabilities that allow employees to build AI agents without coding, along with an Nvidia-backed AI Passport designed to manage permissions, business context and emergency controls for AI agents. These products could strengthen adoption of ServiceNow’s workflow and governance platform. ServiceNow introduces the third generation of its employee-centric AI harness
• Positive Sentiment: Recent coverage highlights ServiceNow’s deep integration into enterprise systems, strong customer retention and consistent revenue growth. Analysts also expect potential support from customer upgrades, security-product demand and U.S. federal spending. ServiceNow stock rises as investors rotate to enterprise software stocks
• Neutral Sentiment: ServiceNow’s shares benefited previously from a denial of reports that it was interested in acquiring AI startup Decagon, reducing concerns about a potentially expensive acquisition. That benefit has faded as broader market sentiment has deteriorated. ServiceNow Climbs After Denying Decagon Acquisition Interest
• Negative Sentiment: Enterprise software stocks are falling as AI-financing concerns spread. Investors appear to be taking profits and reducing exposure to expensive AI beneficiaries, with ServiceNow declining alongside Palantir and Salesforce despite its improving AI product portfolio. Enterprise Software Stocks Fall as AI Financing Worries Spread

About ServiceNow

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.