ServiceNow (NYSE:NOW) Price Target Cut to $120.00 by Analysts at Truist Financial

ServiceNow (NYSE:NOW) had its target price trimmed by Truist Financial from $125.00 to $120.00 in a research report released on Thursday morning, MarketBeat reports. The brokerage currently has a buy rating on the information technology services provider’s stock.

Other equities analysts also recently issued reports about the stock. Royal Bank Of Canada lowered their price objective on shares of ServiceNow from $150.00 to $121.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. UBS Group downgraded shares of ServiceNow from a “buy” rating to a “neutral” rating and decreased their target price for the company from $170.00 to $100.00 in a research note on Friday, April 10th. HSBC decreased their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Citigroup decreased their target price on shares of ServiceNow from $177.00 to $154.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Evercore reaffirmed an “outperform” rating and set a $175.00 target price (down from $225.00) on shares of ServiceNow in a research note on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.68.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $84.85 on Thursday. The company has a market cap of $87.92 billion, a price-to-earnings ratio of 50.57, a price-to-earnings-growth ratio of 1.73 and a beta of 1.01. The company has a 50-day moving average price of $105.18 and a 200-day moving average price of $138.45. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. ServiceNow has a 12 month low of $81.24 and a 12 month high of $211.48.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 earnings per share. As a group, equities analysts anticipate that ServiceNow will post 2.49 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 9,641 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the sale, the insider owned 11,757 shares in the company, valued at $1,245,419.01. This represents a 45.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $105.71, for a total transaction of $147,994.00. Following the sale, the insider owned 26,314 shares in the company, valued at approximately $2,781,652.94. The trade was a 5.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 16,237 shares of company stock valued at $1,697,162. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently made changes to their positions in NOW. Brighton Jones LLC grew its holdings in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after buying an additional 30 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after buying an additional 34 shares during the last quarter. United Bank grew its holdings in shares of ServiceNow by 15.5% during the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after buying an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its holdings in shares of ServiceNow by 2.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after buying an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC grew its holdings in shares of ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after buying an additional 609 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Q1 revenue beat and company raised its annual subscription-revenue outlook, with management citing strong adoption of ServiceNow’s AI products as a growth driver. Earnings Beat & Raise
• Positive Sentiment: Strategic momentum: deeper Google Cloud partnership and CEO comments emphasize AI-led product traction that could drive recurring revenue and long-term monetization. Google Cloud Partnership
• Neutral Sentiment: Armis acquisition completed (adds cyber‑exposure capability), a strategic tuck‑in that expands the product set but increases near‑term integration/expense complexity. Armis Acquisition
• Negative Sentiment: Management warned the Armis deal and acquisition-related costs will weigh on margins (roughly +75 bps FY headwind; ~125 bps in Q2), spooking investors focused on near‑term profitability. Margin Headwind
• Negative Sentiment: Geopolitical impact: ServiceNow cited delayed large deals in the Middle East (Iran conflict) that trimmed subscription growth this quarter — investors treated the disruption as a material near‑term revenue risk. Deal Delays from Iran War
• Negative Sentiment: Wall Street reaction: multiple firms cut price targets and some trimmed forecasts after the call; that wave of downgrades magnified selling pressure. Analyst Price‑Target Cuts
• Negative Sentiment: Sector contagion and positioning: ServiceNow’s miss‑/guidance mix reignited AI-disruption fears across software names, triggering a broad selloff and higher short interest that increased volatility. Sector Selloff

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.