ServiceNow (NYSE:NOW) Price Target Raised to $174.00 at Cantor Fitzgerald

ServiceNow (NYSE:NOW) had its target price hoisted by Cantor Fitzgerald from $141.00 to $174.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

Other equities analysts also recently issued reports about the company. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of ServiceNow in a report on Wednesday, September 9th. TD Cowen reissued a “buy” rating and set a $140.00 price objective on shares of ServiceNow in a report on Monday, August 17th. Truist Financial boosted their price objective on shares of ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a report on Monday, August 3rd. Finally, UBS Group set a $248.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $146.51.

ServiceNow Stock Up 1.7%

Shares of NYSE NOW opened at $137.75 on Monday. The business has a 50-day moving average of $123.90 and a two-hundred day moving average of $110.30. The company has a market capitalization of $142.43 billion, a price-to-earnings ratio of 86.09, a price-to-earnings-growth ratio of 2.49 and a beta of 0.97. ServiceNow has a 1 year low of $81.24 and a 1 year high of $194.73. 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 (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, analysts forecast that ServiceNow will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline Canney sold 7,847 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the sale, the insider directly owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. This represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $300,767.58. Following the transaction, the insider owned 18,305 shares in the company, valued at approximately $2,706,760.35. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 14,081 shares of company stock worth $1,937,904. 0.34% of the stock is owned by insiders.

Institutional Trading of ServiceNow

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $2,020,992,000. Moors & Cabot Inc. raised its holdings in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after buying an additional 36,274 shares during the last quarter. Bank of Nova Scotia boosted its position in shares of ServiceNow by 53.3% during the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock worth $106,436,000 after buying an additional 353,749 shares during the period. Huntington National Bank grew its holdings in ServiceNow by 397.1% in the 4th quarter. Huntington National Bank now owns 544,257 shares of the information technology services provider’s stock worth $83,375,000 after buying an additional 434,761 shares in the last quarter. Finally, Sapient Capital LLC grew its holdings in ServiceNow by 266.0% in the 2nd quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider’s stock worth $7,710,000 after buying an additional 56,444 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target from $141 to $174 and maintained an “overweight” rating, implying substantial upside from the recent trading level. The upgrade reflects confidence in ServiceNow’s enterprise software growth and AI strategy. Cantor Fitzgerald Boosts ServiceNow Price Target
• Positive Sentiment: ServiceNow continues to benefit from strong demand for workflow-automation software, cross-selling across its customer base and partnerships aimed at expanding AI capabilities. These factors could help sustain growth as enterprises invest in productivity and digital transformation. NOW Rides on Strong Workflow Demand
• Neutral Sentiment: Analyst opinion remains divided because ServiceNow is attempting to position itself as a major AI-software disruptor while facing intensifying competition from Salesforce and Microsoft. The wide range of bullish and bearish views highlights uncertainty over how quickly AI will translate into incremental revenue and earnings. Bull v. Bear: NOW Seeks to Become Disruptor
• Negative Sentiment: ServiceNow’s valuation remains a concern for value-oriented investors. A comparison with TD SYNNEX underscores that NOW trades more on premium growth expectations than traditional value metrics, leaving the stock vulnerable if growth or AI monetization disappoints. SNX vs. NOW: Which Stock Is the Better Value Option?

ServiceNow Company Profile

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company’s products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.