ServiceNow (NYSE:NOW) Price Target Cut to $145.00 by Analysts at Canaccord Genuity Group

ServiceNow (NYSE:NOW) had its price objective reduced by Canaccord Genuity Group from $200.00 to $145.00 in a report released on Thursday morning, Marketbeat.com reports. Canaccord Genuity Group currently has a buy rating on the information technology services provider’s stock.

A number of other equities analysts have also recently commented on the stock. Arete Research set a $200.00 price target on shares of ServiceNow in a research note on Tuesday, January 6th. Weiss Ratings cut shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Wells Fargo & Company dropped their price target on shares of ServiceNow from $225.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Benchmark initiated coverage on shares of ServiceNow in a research note on Wednesday, April 1st. They set a “buy” rating and a $125.00 price target for the company. Finally, Robert W. Baird dropped their price target on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.68.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $84.85 on Thursday. ServiceNow has a 52 week low of $81.24 and a 52 week high of $211.48. The stock has a market capitalization of $87.92 billion, a P/E ratio of 50.57, a PEG ratio of 1.73 and a beta of 1.01. The firm has a fifty day simple moving average of $105.18 and a two-hundred day simple moving average of $138.45. 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 data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the company posted $0.81 EPS. The business’s revenue was up 22.1% on a year-over-year basis. On average, analysts expect that ServiceNow will post 2.49 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the sale, the insider directly owned 26,314 shares of the company’s stock, valued at $2,781,652.94. The trade was a 5.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Fipps sold 3,696 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares of the company’s stock, valued at approximately $820,367.97. This trade represents a 31.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,237 shares of company stock valued at $1,697,162 in the last three months. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On ServiceNow

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after purchasing an additional 81,752,460 shares in the last quarter. State Street Corp raised its holdings in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after purchasing an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after purchasing an additional 25,517,218 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after purchasing an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of ServiceNow by 335.6% in the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after purchasing an additional 17,514,679 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about ServiceNow

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

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.