ServiceNow (NYSE:NOW) Stock Gets Price Target Cut from Citigroup

Posted by Stanley Muller on Nov 1st, 2026

ServiceNow (NYSE:NOW – Free Report) had its target price decreased by Citigroup from $170.00 to $157.00 in a research note released on Thursday,Benzinga reports. Citigroup currently has a buy rating on the information technology services provider’s stock.

Several other research firms also recently commented on NOW. CLSA assumed coverage on shares of ServiceNow in a report on Monday, July 20th. They issued an “underperform” rating and a $72.00 price objective on the stock. BTIG Research reduced their target price on shares of ServiceNow from $170.00 to $150.00 and set a “buy” rating for the company in a report on Thursday. Canaccord Genuity Group set a $145.00 target price on shares of ServiceNow in a report on Thursday. KeyCorp restated an “underweight” rating and set a $110.00 target price (up from $85.00) on shares of ServiceNow in a research report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $175.00 price target on shares of ServiceNow in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $154.50.

Check Out Our Latest Stock Analysis on NOW

ServiceNow Stock Down 4.1%

Shares of NYSE NOW opened at $105.12 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.70 and a current ratio of 0.72. The firm has a market capitalization of $109.11 billion, a price-to-earnings ratio of 75.63, a PEG ratio of 1.94 and a beta of 0.99. The stock has a 50 day moving average price of $138.71 and a 200 day moving average price of $115.45. ServiceNow has a 52-week low of $81.24 and a 52-week high of $189.53.

ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.09 billion. ServiceNow had a return on equity of 15.17% and a net margin of 9.36%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.82 earnings per share. Sell-side analysts expect that ServiceNow will post 2.14 earnings per share for the current year.

Insider Activity

In other news, insider Paul Fipps sold 2,034 shares of ServiceNow 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 sale, the insider directly owned 18,305 shares of the company’s stock, valued at $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline Canney sold 7,847 shares of the business’s 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 sale, the insider owned 30,042 shares of the company’s stock, valued at $4,145,796. The trade was a 20.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,081 shares of company stock worth $1,937,904 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ServiceNow

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOW. BlackRock Inc. acquired a new stake in shares of ServiceNow in the second quarter valued at approximately $9,536,615,000. State Street Corp boosted its stake 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 worth $4,868,514,000 after buying an additional 979,726 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 buying an additional 2,362,606 shares during the last quarter. Amundi boosted its stake 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 buying an additional 4,346,722 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in ServiceNow by 6.5% in the 1st quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider’s stock valued at $891,491,000 after buying an additional 518,263 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

Positive Sentiment: ServiceNow reported 20.5% year-over-year revenue growth, supported by subscription demand, and raised its 2026 artificial-intelligence contract target to $1.7 billion. Management and bullish analysts argue that AI adoption could accelerate growth in 2027. ServiceNow: 3 Key Takeaways for Long-Term Investors
Positive Sentiment: Several analysts continue to rate NOW Buy or Overweight despite reducing their price targets. JPMorgan, Piper Sandler, Wells Fargo and Oppenheimer still see substantial long-term upside, suggesting the sell-off may have been excessive. ServiceNow stock is on track for its largest drop on record
Positive Sentiment: A new partnership with BDO Canada will help organizations govern AI and automate operations using ServiceNow’s platform, providing potential support for future enterprise demand. BDO Canada partners with ServiceNow
Neutral Sentiment: ServiceNow’s CEO has defended the company’s valuation and long-term opportunity, while a reported $3 million insider stock purchase may signal management confidence. However, such commentary has not offset investor concerns about guidance. ServiceNow CEO makes striking unicorn claim
Negative Sentiment: The primary catalyst for the sell-off was management’s forecast for slower fourth-quarter current remaining performance obligation growth—about 18.5%, below the approximately 21.5% revenue-growth outlook. Because cRPO represents contracted future revenue, investors viewed the gap as a warning that demand may be weakening. ServiceNow Guides to Slower Backlog Growth
Negative Sentiment: Third-quarter adjusted earnings of $1.00 per share fell short of the $1.02 consensus estimate. The miss, combined with concerns that AI could disrupt traditional software pricing and demand, overshadowed the revenue beat and higher AI target. ServiceNow shares plunge after earnings
Negative Sentiment: Investors are also monitoring ServiceNow’s roughly $7.5 billion debt load and rising interest costs, while a shareholder investigation into potential securities-law violations adds reputational and legal uncertainty. ServiceNow’s Debt and Interest Costs Jump

About ServiceNow

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ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.