ServiceNow (NYSE:NOW) Price Target Cut to $160.00 by Analysts at Wells Fargo & Company

ServiceNow (NYSE:NOW) had its price objective lowered by Wells Fargo & Company from $185.00 to $160.00 in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. Wells Fargo & Company currently has an overweight rating on the information technology services provider’s stock.

NOW has been the topic of a number of other research reports. Mizuho set a $150.00 target price on ServiceNow and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Sanford C. Bernstein reiterated an “outperform” rating on shares of ServiceNow in a research note on Thursday, January 29th. Capital One Financial reduced their target price on ServiceNow from $158.00 to $113.00 and set an “overweight” rating on the stock in a research note on Thursday, April 16th. TD Cowen reduced their target price on ServiceNow from $185.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Finally, Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $147.68.

ServiceNow Stock Performance

NOW stock opened at $84.85 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is $105.18 and its two-hundred day simple moving average is $138.45. ServiceNow has a twelve month low of $81.24 and a twelve month high of $211.48. The firm has a market cap of $87.92 billion, a price-to-earnings ratio of 50.57, a PEG ratio of 1.73 and a beta of 1.01.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. Analysts predict that ServiceNow will post 2.49 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $101.17, for a total transaction of $151,755.00. Following the transaction, the director owned 46,430 shares of the company’s stock, valued at approximately $4,697,323.10. This represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Fipps sold 9,641 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total value of $1,021,271.13. Following the transaction, the insider directly owned 11,757 shares in the company, valued at $1,245,419.01. The trade was a 45.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 16,237 shares of company stock valued at $1,697,162. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

A number of institutional investors have recently added to or reduced their stakes in NOW. Brighton Jones LLC boosted its position in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares in the last quarter. Sivia Capital Partners LLC boosted its position in ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after purchasing an additional 34 shares in the last quarter. United Bank boosted its position in ServiceNow by 15.5% during the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after purchasing an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its position in ServiceNow by 2.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after purchasing an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its position in ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after purchasing an additional 609 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Key Headlines Impacting 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

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.