ServiceNow (NYSE:NOW) Price Target Lowered to $140.00 at Piper Sandler

ServiceNow (NYSE:NOW) had its price objective trimmed by Piper Sandler from $200.00 to $140.00 in a research report released on Thursday morning, Marketbeat Ratings reports. The firm currently has an overweight rating on the information technology services provider’s stock.

Other analysts have also recently issued reports about the stock. Truist Financial set a $125.00 target price on shares of ServiceNow in a report on Wednesday, April 15th. Stifel Nicolaus dropped their price target on ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. HSBC cut their price objective on ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Sanford C. Bernstein restated an “outperform” rating on shares of ServiceNow in a report on Thursday, January 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of ServiceNow in a research report on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.68.

ServiceNow Price Performance

NYSE:NOW opened at $84.85 on Thursday. The business’s 50-day moving average price is $105.18 and its 200 day moving average price is $138.45. The firm has a market cap of $87.92 billion, a P/E ratio of 50.57, a PEG ratio of 1.73 and a beta of 1.01. ServiceNow has a 52-week low of $81.24 and a 52-week high of $211.48. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12.

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

Insider Activity

In other news, insider Paul Fipps sold 9,641 shares of ServiceNow stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the sale, the director directly owned 46,430 shares of the company’s stock, valued at approximately $4,697,323.10. This represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 16,237 shares of company stock worth $1,697,162. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of ServiceNow

Institutional investors have recently bought and sold shares of the company. iA Global Asset Management Inc. lifted its holdings in shares of ServiceNow by 31.3% during the 1st quarter. iA Global Asset Management Inc. now owns 100,594 shares of the information technology services provider’s stock valued at $10,517,000 after buying an additional 23,989 shares during the last quarter. Peregrine Capital Management LLC boosted its holdings in shares of ServiceNow by 18.0% during the 1st quarter. Peregrine Capital Management LLC now owns 530,306 shares of the information technology services provider’s stock worth $55,443,000 after buying an additional 80,768 shares during the period. Impact Partnership Wealth LLC bought a new stake in ServiceNow during the first quarter valued at about $355,000. Premier Path Wealth Partners LLC increased its stake in shares of ServiceNow by 48.6% in the first quarter. Premier Path Wealth Partners LLC now owns 13,501 shares of the information technology services provider’s stock worth $1,412,000 after purchasing an additional 4,416 shares during the period. Finally, Cross Staff Investments Inc lifted its position in shares of ServiceNow by 8.0% during the 1st quarter. Cross Staff Investments Inc now owns 4,050 shares of the information technology services provider’s stock worth $423,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

More ServiceNow News

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

ServiceNow Company Profile

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.