Raymond James Financial Lowers ServiceNow (NYSE:NOW) Price Target to $130.00

ServiceNow (NYSE:NOW) had its price objective reduced by analysts at Raymond James Financial from $160.00 to $130.00 in a report released on Thursday,MarketScreener reports. The firm presently has an “outperform” rating on the information technology services provider’s stock. Raymond James Financial’s price target would indicate a potential upside of 49.93% from the company’s previous close.

A number of other research firms have also commented on NOW. Citigroup reduced their price objective on ServiceNow from $177.00 to $154.00 and set a “buy” rating on the stock in a research note on Thursday. Jefferies Financial Group reissued a “buy” rating and set a $135.00 price objective on shares of ServiceNow in a report on Thursday. Wells Fargo & Company dropped their target price on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday. Sanford C. Bernstein increased their price target on shares of ServiceNow from $219.00 to $226.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Weiss Ratings cut shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Three analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $155.86.

ServiceNow Price Performance

Shares of NYSE:NOW traded down $16.36 during midday trading on Thursday, reaching $86.71. 17,589,364 shares of the company’s stock were exchanged, compared to its average volume of 20,024,004. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The company’s 50 day simple moving average is $105.55 and its two-hundred day simple moving average is $138.83. ServiceNow has a 12 month low of $81.24 and a 12 month high of $211.48. The firm has a market capitalization of $89.84 billion, a PE ratio of 52.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the firm earned $4.04 EPS. ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. Equities research analysts expect that ServiceNow will post 2.49 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 9,641 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 11,757 shares in the company, valued at approximately $1,245,419.01. The trade was a 45.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the transaction, the insider owned 26,314 shares in the company, valued at $2,781,652.94. This represents a 5.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,237 shares of company stock worth $1,697,162 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Institutional Trading of ServiceNow

A number of hedge funds have recently modified their holdings of NOW. IAG Wealth Partners LLC grew its holdings in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 18 shares during the period. Noble Wealth Management PBC lifted its stake in ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 128 shares in the last quarter. Millstone Evans Group LLC boosted its holdings in shares of ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 132 shares during the period. CBIZ Investment Advisory Services LLC increased its position in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC bought a new stake in shares of ServiceNow during the fourth quarter worth $25,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Q1 subscription revenue and top-line: Subscription revenue grew ~22% YoY and overall Q1 revenue slightly beat consensus, showing continued demand for ServiceNow’s AI-driven platform. BusinessWire Q1 Release
• Positive Sentiment: Company raised its annual subscription revenue outlook, citing stronger AI adoption — a sign management sees sustainable demand for Now Assist and related products. Reuters: Boosts Outlook
• Neutral Sentiment: Strategic moves: ServiceNow closed the Armis acquisition to expand into OT/IoT/cyber asset visibility and announced deeper Google Cloud AI integrations — positive long-term product synergy but with short-term execution risk. Yahoo: Google Cloud Partnership
• Neutral Sentiment: Management tone and events calendar: CEO emphasized AI-driven productivity and an Analyst Day is scheduled for May 4 — useful for forward guidance clarity. Investors.com: Analyst Day
• Negative Sentiment: Middle East deal delays: Management said delayed large deals in the Middle East created ~75 bps of subscription-revenue headwind in Q1 and could push some closures into later quarters — an immediate growth and sentiment headwind. Yahoo: Deal Delays
• Negative Sentiment: Margins to be pressured by Armis purchase: ServiceNow warned the acquisition will create a roughly 75‑bp FY operating-margin headwind (125 bps in Q2), which contributed to investor concern about near-term profitability. WSJ: Armis Margin Impact
• Negative Sentiment: Market reaction and analyst moves: Despite the beat, sentiment soured — multiple shops trimmed price targets and the stock drew higher short interest amid broader AI/disruption worries, amplifying the selloff. Finviz: Analyst PT Cuts Reuters: Short Interest

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.