ServiceNow (NYSE:NOW) Price Target Lowered to $122.00 at Cantor Fitzgerald

ServiceNow (NYSE:NOW) had its price objective decreased by Cantor Fitzgerald to $122.00 in a research report released on Thursday morning, MarketBeat reports. Cantor Fitzgerald 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. Arete Research set a $200.00 target price on ServiceNow in a report on Tuesday, January 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $135.00 target price (down from $175.00) on shares of ServiceNow in a report on Thursday. Royal Bank Of Canada reduced their target price on ServiceNow from $150.00 to $121.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. JPMorgan Chase & Co. reduced their target price on ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Morgan Stanley reduced their target price on ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.68.

ServiceNow Price Performance

NOW stock 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’s fifty day simple moving average is $105.18 and its 200-day simple moving average is $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. The stock has a market capitalization of $87.92 billion, a price-to-earnings ratio of 50.57, a price-to-earnings-growth ratio of 1.73 and a beta of 1.01.

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

Insiders Place Their Bets

In other ServiceNow news, insider Paul Fipps sold 9,641 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the transaction, the insider owned 11,757 shares in the company, valued at $1,245,419.01. The trade was a 45.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 owned 26,314 shares in the company, valued at approximately $2,781,652.94. This represents a 5.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,237 shares of company stock worth $1,697,162 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. IAG Wealth Partners LLC lifted its stake in shares of ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 18 shares in the last quarter. Noble Wealth Management PBC lifted its stake in shares of ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 128 shares in the last quarter. Millstone Evans Group LLC lifted its stake in shares of ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth about $25,000. Institutional investors and hedge funds 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.