TD Cowen Issues Positive Forecast for ServiceNow (NYSE:NOW) Stock Price

ServiceNow (NYSE:NOW) had its target price lifted by analysts at TD Cowen from $140.00 to $165.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the information technology services provider’s stock. TD Cowen’s target price would suggest a potential upside of 15.89% from the stock’s previous close.

Several other equities research analysts have also commented on NOW. Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, July 1st. UBS Group restated a “neutral” rating and issued a $150.00 target price (up from $110.00) on shares of ServiceNow in a research note on Tuesday, October 6th. Stifel Nicolaus set a $160.00 target price on ServiceNow and gave the company a “buy” rating in a report on Tuesday, October 6th. Cantor Fitzgerald upped their target price on ServiceNow from $141.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, September 21st. Finally, Truist Financial increased their price target on ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.15.

ServiceNow Stock Performance

Shares of NOW stock opened at $142.37 on Thursday. The firm has a 50-day moving average of $134.23 and a 200-day moving average of $113.12. The company has a market cap of $147.21 billion, a P/E ratio of 89.27, a P/E/G ratio of 2.55 and a beta of 0.99. 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 has a one year low of $81.24 and a one year high of $192.97.

ServiceNow (NYSE:NOW) last released its quarterly earnings results 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. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. Equities research analysts forecast that ServiceNow will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 7,847 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the completion of the sale, the insider owned 30,042 shares in the company, valued at $4,145,796. This trade represents a 20.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the sale, the director owned 43,990 shares of the company’s stock, 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 have sold a total of 14,081 shares of company stock worth $1,937,904 over the last three months. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ServiceNow

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in ServiceNow in the 2nd quarter valued at about $9,536,615,000. State Street Corp lifted its holdings in ServiceNow by 2.0% during the second quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider’s stock valued at $4,868,514,000 after purchasing an additional 979,726 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ServiceNow by 16.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,638,071 shares of the information technology services provider’s stock worth $1,651,828,000 after purchasing an additional 2,362,606 shares during the period. Amundi boosted its position in ServiceNow by 60.9% during the first quarter. Amundi now owns 11,479,098 shares of the information technology services provider’s stock worth $1,200,140,000 after purchasing an additional 4,346,722 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of ServiceNow by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider’s stock worth $891,491,000 after purchasing an additional 518,263 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s revenue has grown faster year over year than Salesforce’s over the past eight quarters, with consistent sequential gains and no notable seasonal declines. The trend reinforces the company’s position as a high-growth enterprise software provider. Salesforce vs. ServiceNow revenue trends
• Positive Sentiment: Oppenheimer indicated that ServiceNow is well positioned for a favorable third-quarter outcome, citing encouraging channel checks. It also raised its price target, while another analyst called NOW a top software pick with potential growth acceleration into fiscal 2027 from AI, security and usage-based products. ServiceNow favorable Q3 outlook
• Positive Sentiment: ServiceNow and Stagwell announced a three-year collaboration to modernize enterprise marketing. The arrangement gives ServiceNow access to Stagwell’s agencies and AI-powered operating system, potentially expanding workflow usage and customer adoption. Stagwell and ServiceNow collaboration
• Positive Sentiment: ServiceNow’s AI business has reached a milestone that analysts view as a possible new billion-dollar growth engine, adding to the investment case despite the recent selloff. ServiceNow AI growth engine
• Neutral Sentiment: ServiceNow denied reports that it was pursuing AI customer-support startup Decagon. The denial removes immediate takeover speculation, but investors remain focused on whether the company will continue making large acquisitions after its recent multibillion-dollar deals. Jefferies maintained a buy rating and a $140 target. ServiceNow denies Decagon acquisition interest
• Negative Sentiment: Comparisons with Salesforce favor CRM on earnings-estimate revisions, AI growth and valuation, potentially limiting NOW’s relative appeal. ServiceNow also trades at a premium valuation—roughly 73 times earnings—so investors need stronger cash-flow growth to justify the multiple. Salesforce versus ServiceNow AI stock comparison

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.