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

ServiceNow (NYSE:NOW) had its target price boosted by investment analysts at Piper Sandler from $140.00 to $175.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Piper Sandler’s price target would suggest a potential upside of 17.56% from the stock’s current price.

Several other brokerages also recently commented on NOW. Argus lifted their target price on ServiceNow from $134.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. KeyCorp reissued an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. Truist Financial increased their price target on ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Jefferies Financial Group restated a “buy” rating on shares of ServiceNow in a research report on Tuesday. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $190.00 price objective (up from $175.00) on shares of ServiceNow in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.73.

ServiceNow Price Performance

NOW stock opened at $148.86 on Friday. The company has a market capitalization of $153.92 billion, a P/E ratio of 93.04, a PEG ratio of 2.57 and a beta of 0.99. The company has a fifty day moving average price of $134.87 and a 200-day moving average price of $113.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. ServiceNow has a 52-week low of $81.24 and a 52-week high of $192.97.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate 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 net margin of 11.34% and a return on equity of 16.45%. ServiceNow’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. As a group, equities analysts expect that ServiceNow will post 2.22 EPS for the current year.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 2,034 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Chamberlain sold 2,700 shares of ServiceNow stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the transaction, the director directly owned 43,990 shares in the company, valued at approximately $5,960,645. The trade was a 5.78% decrease in their position. 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 ninety days. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ServiceNow

A number of hedge funds have recently bought and sold shares of NOW. Fortitude Advisory Group L.L.C. bought a new position in shares of ServiceNow in the third quarter worth $340,000. Perpetual Ltd raised its stake in shares of ServiceNow by 12.3% during the 3rd quarter. Perpetual Ltd now owns 6,215 shares of the information technology services provider’s stock valued at $833,000 after purchasing an additional 682 shares during the period. Moody National Bank Trust Division raised its stake in shares of ServiceNow by 3.9% during the 3rd quarter. Moody National Bank Trust Division now owns 13,038 shares of the information technology services provider’s stock valued at $1,747,000 after purchasing an additional 484 shares during the period. Central Pacific Bank Trust Division raised its stake in shares of ServiceNow by 7.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 19,131 shares of the information technology services provider’s stock valued at $2,564,000 after purchasing an additional 1,259 shares during the period. Finally, Defender Capital LLC. purchased a new stake in ServiceNow during the 3rd quarter worth about $268,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow introduced an “AI Passport” framework that gives AI agents defined identities, permissions, business context and a potential shutdown mechanism. The governance tools may help enterprises deploy autonomous agents while addressing security and compliance concerns. ServiceNow gives AI agents a passport, and limits on what they can do
• Positive Sentiment: The company expanded EmployeeWorks, allowing employees to build and use AI agents without coding. Investors viewed the release as evidence that ServiceNow is broadening AI adoption across its enterprise customer base. ServiceNow introduces the third generation of its employee-centric AI harness
• Positive Sentiment: TD Cowen raised its ServiceNow price target to $165 from $140 and maintained a Buy rating. The analyst expects solid third-quarter results, supported by customer upgrades, security-product growth and demand from U.S. federal agencies. ServiceNow stock rises as investors rotate to enterprise software stocks
• Positive Sentiment: ServiceNow’s denial that it plans to acquire AI startup Decagon removed a potential source of acquisition-spending and execution concerns, helping refocus investors on the company’s organic AI growth. ServiceNow denies interest in acquiring Decagon
• Positive Sentiment: Recent comparisons show ServiceNow has delivered consistent sequential revenue growth over the past eight quarters, while its enterprise workflow platform continues to scale. A three-year collaboration with Stagwell also creates a channel for broader marketing-automation adoption. Stagwell collaboration with ServiceNow
• Neutral Sentiment: Investors are rotating toward established enterprise-software companies as concerns about debt-heavy AI businesses persist, providing a favorable trading backdrop for NOW. However, comparisons with Salesforce and Palantir underscore continued competition and valuation debates. ServiceNow vs. Palantir Technologies

About ServiceNow

ServiceNow, Inc is a cloud-based enterprise software company that helps organizations digitize, automate and manage workflows. Its platform connects people, processes and systems across departments, enabling businesses to replace manual, disconnected activities with standardized digital workflows.

The company’s products and services support a range of functions, including information technology service management, IT operations management, customer service, human resources, risk and security operations, and software development.