Royal Bank Of Canada Reiterates “Outperform” Rating for ServiceNow (NYSE:NOW)

ServiceNow (NYSE:NOW)‘s stock had its “outperform” rating restated by Royal Bank Of Canada in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $121.00 target price on the information technology services provider’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 33.42% from the company’s current price.

Several other analysts have also commented on the company. Truist Financial cut their price objective on ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Morgan Stanley cut their price objective on ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Arete Research set a $200.00 price objective on ServiceNow in a report on Tuesday, January 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $135.00 price objective (down from $175.00) on shares of ServiceNow in a report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $146.35.

ServiceNow Stock Performance

Shares of NOW traded down $1.28 during trading hours on Tuesday, hitting $90.69. The stock had a trading volume of 10,477,051 shares, compared to its average volume of 21,158,486. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow has a 12 month low of $81.24 and a 12 month high of $211.48. The firm has a market capitalization of $93.50 billion, a PE ratio of 54.17, a PEG ratio of 1.61 and a beta of 0.82. The stock has a fifty day moving average price of $103.45 and a 200 day moving average price of $134.58.

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 the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. ServiceNow’s revenue was up 22.1% compared to the same quarter last year. Analysts anticipate that ServiceNow will post 2.35 EPS for the current year.

Insider Buying and Selling

In other news, insider Kevin Thomas Mcbride sold 1,400 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the transaction, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,164 shares of company stock valued at $2,497,021 over the last three months. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ServiceNow

Several large investors have recently made changes to their positions in the business. Magnus Financial Group LLC lifted its position in shares of ServiceNow by 1.9% in the third quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider’s stock valued at $542,000 after acquiring an additional 11 shares in the last quarter. Avidian Wealth Enterprises LLC increased its holdings in shares of ServiceNow by 2.5% in the third quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock worth $417,000 after purchasing an additional 11 shares during the last quarter. Yoder Wealth Management Inc. increased its holdings in shares of ServiceNow by 4.6% in the third quarter. Yoder Wealth Management Inc. now owns 272 shares of the information technology services provider’s stock worth $250,000 after purchasing an additional 12 shares during the last quarter. Meridian Wealth Advisors LLC increased its holdings in shares of ServiceNow by 2.2% in the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock worth $508,000 after purchasing an additional 12 shares during the last quarter. Finally, Valley Brook Capital Group Inc. increased its holdings in shares of ServiceNow by 2.1% in the third quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider’s stock worth $583,000 after purchasing an additional 13 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Several firms raised price targets or reiterated buy/outperform ratings after analyst/Investor Day commentary, signaling renewed buy-side conviction (Evercore to $150, Capital One to $120, Barclays raised to $134; Citi and BTIG also bullish). These upgrades support upside expectations for the stock. Evercore price-target raise
• Positive Sentiment: Enterprise partnerships and product integrations announced around Knowledge26 (Cloudera zero-copy connector, Ataccama data-quality integration, Novaworks HR system built on Now, Thrive platform updates) strengthen ServiceNow’s position as an AI/workflow platform and help expand addressable market and adoption. Cloudera connector Ataccama integration
• Positive Sentiment: Management reiterated an aggressive long-term target (doubling subscription revenue toward ~$30B by 2030) and highlighted Now Assist surpassing ~$750M ACV — metrics that underpin long-term growth/monetization of AI offerings. Business Insider revenue target
• Neutral Sentiment: Investor/Analyst Day focused on AI product innovation, pricing and monetization; these are strategic positives but materialization depends on execution and timing. Investor Day preview
• Neutral Sentiment: CEO comments on an active M&A cadence aim to reassure investors but leave open questions on integration and ROI timing. CEO acquisitions comments
• Negative Sentiment: Wolfe Research cut its price target (from $175 to $125), citing conservative guidance and delayed on?premise deals in some regions — a reminder that near-term execution risks and regional deal timing can pressure sentiment. Wolfe Research lowered PT
• Negative Sentiment: Broader “SaaSocalypse”/AI-displacement worries and sector re-rating have weighed on valuation multiples despite product progress, contributing to today’s weaker price action. TipRanks on SaaS concerns

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.